https://www.taxtmi.com/caselaws?id=430006 The moratorium under the Insolvency and Bankruptcy Code protects only the corporate debtor and does not extend to natural persons liable under the Negotiable Instruments Act for offences under sections 138 and 141. Prosecution may therefore continue against a director or managing director where vicarious liability is alleged, even if proceedings against the company are stayed. Disputed questions about whether the petitioner was in charge of the company, and the surrounding cheque transaction, could not be resolved in quashing proceedings under section 482 of the Criminal Procedure Code. The complaint was maintainable and the petition to quash was rejected. en-us Wed, 28 Sep 2022 00:00:00 +0530 Wed, 09 Nov 2022 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430006 The moratorium under the Insolvency and Bankruptcy Code protects only the corporate debtor and does not extend to natural persons liable under the Negotiable Instruments Act for offences under sections 138 and 141. Prosecution may therefore continue against a director or managing director where vicarious liability is alleged, even if proceedings against the company are stayed. Disputed questions about whether the petitioner was in charge of the company, and the surrounding cheque transaction, could not be resolved in quashing proceedings under section 482 of the Criminal Procedure Code. The complaint was maintainable and the petition to quash was rejected. Case-Laws Indian Laws Wed, 28 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430006