https://www.taxtmi.com/highlights?id=68759 Dishonor of Cheque - CIRP - dissolution of company as per resolution plan - where the proceedings under Section 138 of the NI Act had already commenced with the Magistrate taking cognizance upon the complaint and during the pendency, the company gets dissolved, the signatories/directors cannot escape from their penal liability under Section 138 of the NI Act by citing its dissolution. What is dissolved, is only the company, not the personal penal liability of the accused covered under Section 141 of the NI Act. - SC en-us Fri, 17 Mar 2023 08:36:19 +0530 Fri, 17 Mar 2023 08:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68759 Dishonor of Cheque - CIRP - dissolution of company as per resolution plan - where the proceedings under Section 138 of the NI Act had already commenced with the Magistrate taking cognizance upon the complaint and during the pendency, the company gets dissolved, the signatories/directors cannot escape from their penal liability under Section 138 of the NI Act by citing its dissolution. What is dissolved, is only the company, not the personal penal liability of the accused covered under Section 141 of the NI Act. - SC Highlights Indian Laws Fri, 17 Mar 2023 08:36:19 +0530 https://www.taxtmi.com/highlights?id=68759