https://www.taxtmi.com/caselaws?id=437909 The court dismissed the petition, ruling that the provisions of Section 96 of the Insolvency and Bankruptcy Code do not shield the petitioner from liability under Section 138 of the Negotiable Instruments Act. The court held that personal insolvency proceedings do not halt the complaint under Section 138 NI Act against the petitioner, emphasizing that the petitioner's personal liability remains intact despite the corporate debtor's insolvency. The petitioner's argument to evade liability through personal insolvency proceedings was rejected, and the court found no legal flaw in the impugned order. en-us Mon, 15 May 2023 00:00:00 +0530 Wed, 17 May 2023 21:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437909 The court dismissed the petition, ruling that the provisions of Section 96 of the Insolvency and Bankruptcy Code do not shield the petitioner from liability under Section 138 of the Negotiable Instruments Act. The court held that personal insolvency proceedings do not halt the complaint under Section 138 NI Act against the petitioner, emphasizing that the petitioner's personal liability remains intact despite the corporate debtor's insolvency. The petitioner's argument to evade liability through personal insolvency proceedings was rejected, and the court found no legal flaw in the impugned order. Case-Laws Indian Laws Mon, 15 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437909