https://www.taxtmi.com/caselaws?id=421487 The Supreme Court allowed the appeal, setting aside the High Court judgment and quashing the pending proceedings under Section 138 of the Negotiable Instruments Act, 1881 against the appellant corporate debtor. The Court emphasized the distinction in liability between corporate entities and natural persons in charge of corporate affairs in such proceedings, noting that in this case, only the corporate entity was accused, leading to the quashing of proceedings. The Court highlighted that without any natural person accused, the exception allowing proceedings against individuals did not apply, ultimately resulting in the appeal being allowed. en-us Thu, 18 Nov 2021 00:00:00 +0530 Mon, 12 Jun 2023 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421487 The Supreme Court allowed the appeal, setting aside the High Court judgment and quashing the pending proceedings under Section 138 of the Negotiable Instruments Act, 1881 against the appellant corporate debtor. The Court emphasized the distinction in liability between corporate entities and natural persons in charge of corporate affairs in such proceedings, noting that in this case, only the corporate entity was accused, leading to the quashing of proceedings. The Court highlighted that without any natural person accused, the exception allowing proceedings against individuals did not apply, ultimately resulting in the appeal being allowed. Case-Laws Indian Laws Thu, 18 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421487