No Registration Or Stamp Duty Required For Compromise Decree Acquiring Property With Pre-Existing Right : Supreme Court

The Supreme Court ruled that a director who signed a cheque is not liable for dishonor if the company has not been added as an accused under Section 138 of the Negotiable Instruments Act. The case involved the dishonor of a cheque and whether the director could be held personally liable. The court held that since the company, as a legal entity, had not been made a party to the proceedings, the director could not be held responsible. The ruling clarified the legal responsibility of individuals under the Negotiable Instruments Act, emphasizing that only those directly involved in the transaction and named in the case can be held liable.