Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
Appellate enhancement limits protect against new income sources, while documented credits and prior-year investments resist unexplained-income additio...
Section 96 of the Insolvency and Bankruptcy Code imposes an interim moratorium on civil debt-recovery actions, not on criminal prosecution for cheque dishonour under Section 138 of the Negotiable Instruments Act. Cheque-dishonour proceedings protect the credibility of negotiable instruments and commercial discipline and therefore continue despite insolvency proceedings against the accused. On that basis, the stay of the cheque-dishonour complaint was set aside and the complaint was restored to the Trial Court for continuation in accordance with law.
Section 96 of the Insolvency and Bankruptcy Code imposes an interim moratorium on civil debt-recovery actions, not on criminal prosecution for cheque dishonour under Section 138 of the Negotiable Instruments Act. Cheque-dishonour proceedings protect the credibility of negotiable instruments and commercial discipline and therefore continue despite insolvency proceedings against the accused. On that basis, the stay of the cheque-dishonour complaint was set aside and the complaint was restored to the Trial Court for continuation in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4884 
