COMPANY’S AUTHORISED SIGNATORY NOT “DRAWER” OF CHEQUE, NOT LIABLE TO PAY INTERIM COMPENSATION UNDER SEC. 143A: BOMBAY HIGH COURT The Bombay High Court recently held that an authorised signatory of a company who signs a cheque on its behalf is not the "drawer" of the cheque and hence such signatory is not liable to pay interim compensation under Section 143A of the Negotiable Instruments Act, 1881. The Court further stated that the term drawer has achieved technical connotation over the years which must not be disturbed. They also stated that ‘drawer’ does not include an ‘authorised signatory’ in the case of a company and stated that appellate court cannot direct deposit of the amount. With a team of Commercial Law experts, Reddy & Reddy Law Firm has extensive experience and involvement in commercial disputes, including Insolvency Proceedings. We are regularly involved in representations before NCLT, NCLAT, DRT and other commercial tribunals in India.