https://www.taxtmi.com/highlights?id=60851 Dishonor of Cheque - criminal liability of natural persons - In the case on hand, the insolvency process was initiated by NCLT on 10.07.2017 and moratorium has been declared under the Insolvency & Bankruptcy Code. Therefore, as held by the Hon'ble Supreme Court, the moratorium was only in respect of the corporate debtor and not in respect of the directors / management and therefore, the petitioners 2 and 3 as natural persons, are liable for prosecution. However, in view of declaration of moratorium by NCLT, the prosecution as against the company cannot be allowed to continue. - HC en-us Thu, 09 Dec 2021 08:34:52 +0530 Thu, 09 Dec 2021 08:34:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60851 Dishonor of Cheque - criminal liability of natural persons - In the case on hand, the insolvency process was initiated by NCLT on 10.07.2017 and moratorium has been declared under the Insolvency & Bankruptcy Code. Therefore, as held by the Hon'ble Supreme Court, the moratorium was only in respect of the corporate debtor and not in respect of the directors / management and therefore, the petitioners 2 and 3 as natural persons, are liable for prosecution. However, in view of declaration of moratorium by NCLT, the prosecution as against the company cannot be allowed to continue. - HC Highlights Indian Laws Thu, 09 Dec 2021 08:34:52 +0530 https://www.taxtmi.com/highlights?id=60851