Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
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Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
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Dishonour of Cheque - Continuation of proceedings during moratorium period - vicarious liability of director - proceedings under Section 138 or 141 of the NI Act - Section 32-A of the IBC stipulates that the liability of a corporate debtor for offenses committed prior to insolvency resolution ceases upon approval of the resolution plan, provided there is a change in management or control. However, this protection does not extend to natural persons associated with the corporate debtor, such as directors. Since there was no change in management in the resolution plan approved for the corporate debtor in this case, the protection under Section 32-A does not apply. Consequently, the criminal liability of both the corporate debtor and its directors persists.
Dishonour of Cheque - Continuation of proceedings during moratorium period - vicarious liability of director - proceedings under Section 138 or 141 of the NI Act - Section 32-A of the IBC stipulates that the liability of a corporate debtor for offenses committed prior to insolvency resolution ceases upon approval of the resolution plan, provided there is a change in management or control. However, this protection does not extend to natural persons associated with the corporate debtor, such as directors. Since there was no change in management in the resolution plan approved for the corporate debtor in this case, the protection under Section 32-A does not apply. Consequently, the criminal liability of both the corporate debtor and its directors persists.
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