Home Case Index All Cases Indian Laws Indian Laws + SC Indian Laws - 2022 (4) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (4) TMI 1153 - SUPREME COURTDishonor of Cheque - Company under CIRP - moratorium was issued by NCLT - none of the natural persons who were stated to be the in-charge of and responsible for the affairs of the corporate entity were arrayed as accused - whether debt in question was not enforceable and was only in the nature of a security? - Section 138 of the Negotiable Instruments Act, 1881 - HELD THAT:- In the instant case, the complaint was filed only against the corporate entity and none of the natural persons who were stated to be the in-charge of and responsible for the affairs of the corporate entity were arrayed as accused. It must therefore be held that the corporate debtor, namely, the appellant herein cannot now be proceeded against under Section 138 of the Act. Consequently, the proceedings initiated against the appellant deserve to be quashed - Appeal allowed.
|