Padma Vibhushan awardee Dilip Kumar was the honorary chairman of M/s Geekay Exim (India) Limited, which was into export business. source: mid-day
The company, around two decades ago had raised several hundred crores from various lenders across the country and had issued cheques for repayment to investors which also included Deccan Cements company. The said company was given two cheques of Rs 1 crore which allegedly bounced.
In the year 1998, the company allegedly started to default in its payments and cases started being filed against everyone associated with the company which included the 94-year old actor.
Dilip Kumar managed to get relief from all other cases with regards to this company stating that he had nothing to do with the day to day working of the company but only one case was pending against him for which he was acquitted today.
Under section 141 of Negotiation Instrument Act, the complainant party failed to prove that the actor was involved in the day to day functioning of the company and hence he was acquitted from the case, the court observed.
Struggling with the bad health Dilip Kumar was granted exemption from appearing in the court.
Padma Vibhushan awardee Dilip Kumar was the honorary chairman of M/s Geekay Exim (India) Limited, which was into export business.