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TMI Blog2023 (6) TMI 838X X X X Extracts X X X X X X X X Extracts X X X X ..... h summoning order 31.08.2022 (Annexure P-5) passed by the learned Judicial Magistrate First Class, Sirsa, revisional order dated 12.12.2022 (Annexure P-9) passed by learned Sessions Judge, Sirsa whereby the Revision bearing No.CRR- 233 of 2022 titled as "Shreeom Prime Foods Pvt. Ltd. and others Vs. Rajasthan Trading Co." was dismissed. The petitioners have also prayed for staying of proceedings before the Trial Court. Learned Counsel appearing on behalf of the petitioners contends that the petitioners were the directors of Shreeom Prime Foods Pvt. Ltd. (respondent No.2), which is now undergoing a resolution process before the National Company Law Tribunal (for short, 'NCLT'), Jaipur Bench and an interim resolution professional has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsel and perused the relevant record. The only issue with which this Court is concerned is whether during the pendency of the proceedings under the IBC, which have been admitted, the present proceedings under the NI Act can continue simultaneously or not. While dealing with a similar question, a Three Judge Bench of the Hon'ble Supreme Court in Ajay Kumar Radheyshyam Goenka vs. Tourism Finance Corporation Of India Ltd : 2023 LiveLaw (SC) 195, has held as under : "16. We have no hesitation in coming to the conclusion that the scope of nature of proceedings under the two Acts and quite different and would not intercede each other. In fact, a bare reading of Section 14 of the IBC would make it clear that the nature of proceedings which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... whereas recovery proceedings barred under Section 14 of the IBC are primarily civil in nature, the proceedings under Section 138 of the NI Act are criminal in nature, and both have a different set of purpose. Furthermore, the complainant approaches the Criminal Court not only for recovery of the legally enforceable debt but also for taking penal action under Section 138 of the NI Act for the offence already committed by the accused by not making the payment of the cheque amount despite the receipt of the statutory notice. Therefore, by operation of the provisions of the IBC, the criminal prosecution initiated against the natural persons under Section 138 read with 141 of the NI Act would not stand terminated. As a sequel to the above discu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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