https://www.taxtmi.com/caselaws?id=416340 The court dismissed the petition challenging the summoning order issued under Section 138 of the Negotiable Instruments Act against the corporate debtor but upheld it against the suspended director. The court ruled that the moratorium under Section 14 of the Insolvency and Bankruptcy Code invalidated proceedings against the corporate debtor but not natural persons like the suspended director. The magistrate was directed to proceed accordingly, emphasizing that once a cause of action in criminal proceedings is extinguished, it cannot be revived even if the moratorium ends due to a resolution plan or liquidation order. en-us Tue, 21 Dec 2021 00:00:00 +0530 Mon, 27 Dec 2021 06:36:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416340 The court dismissed the petition challenging the summoning order issued under Section 138 of the Negotiable Instruments Act against the corporate debtor but upheld it against the suspended director. The court ruled that the moratorium under Section 14 of the Insolvency and Bankruptcy Code invalidated proceedings against the corporate debtor but not natural persons like the suspended director. The magistrate was directed to proceed accordingly, emphasizing that once a cause of action in criminal proceedings is extinguished, it cannot be revived even if the moratorium ends due to a resolution plan or liquidation order. Case-Laws Indian Laws Tue, 21 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416340