https://www.taxtmi.com/caselaws?id=432937 The court held that the moratorium provision under Section 14 (1) of the Insolvency and Bankruptcy Code applies only to corporate debtors, not non-corporate debtors. The complaint against non-corporate debtors could not be quashed based on the moratorium order. Vicarious liability under Section 141 of the Negotiable Instruments Act can arise based on overall control of the business or personal conduct of directors. The court found the complaint sufficiently alleged the roles of accused directors, allowing prosecution to continue against non-corporate debtors. The petition was dismissed, permitting prosecution against non-corporate debtors while deferring it against the corporate debtor pending moratorium proceedings. en-us Thu, 05 Jan 2023 00:00:00 +0530 Tue, 17 Jan 2023 20:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432937 The court held that the moratorium provision under Section 14 (1) of the Insolvency and Bankruptcy Code applies only to corporate debtors, not non-corporate debtors. The complaint against non-corporate debtors could not be quashed based on the moratorium order. Vicarious liability under Section 141 of the Negotiable Instruments Act can arise based on overall control of the business or personal conduct of directors. The court found the complaint sufficiently alleged the roles of accused directors, allowing prosecution to continue against non-corporate debtors. The petition was dismissed, permitting prosecution against non-corporate debtors while deferring it against the corporate debtor pending moratorium proceedings. Case-Laws Indian Laws Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432937