https://www.scconline.com/blog/post/2022/05/10/when-no-offence-is-attributable-to-company-it-is-not-possible-to-attach-liability-on-managing-director-section-138-ni-act-dishonour-of-cheque-liability/
When no offence is attributable to Company, it is not possible to attach liability on Managing Director by deeming provisions of S. 141 of the NI Act: Del HC