https://www.taxtmi.com/caselaws?id=417336 The moratorium under the Insolvency and Bankruptcy Code bars continuation or initiation of proceedings under Sections 138 and 141 of the Negotiable Instruments Act against the corporate debtor during the moratorium period, so the cheque dishonour case against the company was quashed. That protection does not extend to natural persons covered by Section 141, and the directors' statutory liability was held to remain unaffected. Accordingly, the prosecution against the individual accused was permitted to continue before the trial court, and their defence was left open to be raised there. en-us Mon, 03 Jan 2022 00:00:00 +0530 Fri, 21 Jan 2022 08:50:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417336 The moratorium under the Insolvency and Bankruptcy Code bars continuation or initiation of proceedings under Sections 138 and 141 of the Negotiable Instruments Act against the corporate debtor during the moratorium period, so the cheque dishonour case against the company was quashed. That protection does not extend to natural persons covered by Section 141, and the directors' statutory liability was held to remain unaffected. Accordingly, the prosecution against the individual accused was permitted to continue before the trial court, and their defence was left open to be raised there. Case-Laws Indian Laws Mon, 03 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417336