2000 (4) TMI 792 - SCH - Companies Law

Cognizance taken by the criminal court under sections 420 120B of the Indian Penal Code 1860 as well as section 138 of the Negotiable Instruments Act 1881 - Held that - No idea under what circumstances the High Courts have stayed the criminal proceedings nor any provision has been shown to us. Be that as it may we are not inclined to interfere with the impugned order. The special leave petition stands accordingly dismissed.

Summary

The Supreme Court of India dismissed a special leave petition regarding criminal proceedings under sections 420, 120B of the Indian Penal Code, and section 138 of the Negotiable Instruments Act. The Court found no provision in the Reserve Bank of India Act to prohibit the continuation of criminal proceedings. The Court declined to interfere with the order despite some High Courts staying criminal proceedings.