TMI BlogDishonor of Cheque - insufficiency of funds - Proceedings under IBC versus offence under the NI Act -...Dishonor of Cheque - insufficiency of funds - Proceedings under IBC versus offence under the NI Act - for the period of moratorium, since no Section 138/141 proceeding can continue or be initiated against the corporate debtor because of a statutory bar, such proceedings can be initiated or continued against the persons mentioned in Section 141(1) and (2) of the Negotiable Instruments Act. This being the case, it is clear that the moratorium provision contained in Section 14 of the IBC would appl..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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