Continuation of present proceedings under the NI Act ...

Indian Laws

June 21, 2023

Continuation of present proceedings under the NI Act simultaneously, during the pendency of the proceedings under the IBC - Dishonour of cheque - The recovery proceedings barred u/s 14 of the IBC are primarily civil in nature, the proceedings u/s 138 of the NI Act are criminal in nature, and both have a different set of purpose. - 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. - HC

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Continuation of present proceedings under the NI Act ...

Indian Laws

June 21, 2023

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