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Under section 141(1) of the Negotiable Instruments Act, 1881, which role can make a person liable when…

Section 141(1) applies to the company and to a person who, when the offence was committed, was both in charge of and responsible to the company for the conduct of its…

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Under section 141(1) of the Negotiable Instruments Act, 1881, which role can make a person liable when a company commits an offence under section 138? Assume no statutory proviso applies.

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Answer and explanation

Correct answer C

Section 141(1) applies to the company and to a person who, when the offence was committed, was both in charge of and responsible to the company for the conduct of its business.

Option feedback

Option A

Section 141(1) also requires responsibility to the company for the conduct of its business.

Option B

Section 141(1) also requires being in charge of the conduct of the company’s business.

Option C

Section 141(1) requires both conditions when the company commits the offence.

Option D

Section 141(1) assesses both conditions at the time the company commits the offence.

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