https://www.taxtmi.com/caselaws?id=432937 A moratorium under Section 14(1) of the Insolvency and Bankruptcy Code bars proceedings only against the corporate debtor and does not protect natural persons liable under Section 141 of the Negotiable Instruments Act, so complaints under Sections 138 and 141 may continue against directors or officers in charge of the company's business. Vicarious criminal liability under Section 141 is not automatic; it arises only where the complaint contains specific averments showing day-to-day control, responsibility for the business, or consent, connivance, or neglect. On the facts stated, the pleaded allegations were sufficient to proceed against the accused, while prosecution against the corporate debtor remains stayed during the moratorium. 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 A moratorium under Section 14(1) of the Insolvency and Bankruptcy Code bars proceedings only against the corporate debtor and does not protect natural persons liable under Section 141 of the Negotiable Instruments Act, so complaints under Sections 138 and 141 may continue against directors or officers in charge of the company's business. Vicarious criminal liability under Section 141 is not automatic; it arises only where the complaint contains specific averments showing day-to-day control, responsibility for the business, or consent, connivance, or neglect. On the facts stated, the pleaded allegations were sufficient to proceed against the accused, while prosecution against the corporate debtor remains stayed during the moratorium. Case-Laws Indian Laws Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432937