https://www.taxtmi.com/caselaws?id=308279 The Supreme Court dismissed a writ petition seeking to quash criminal complaints under Section 138 of the Negotiable Instruments Act against a company and its directors despite the National Company Law Tribunal's approval of a resolution plan. The Court clarified that the moratorium provisions under the Insolvency and Bankruptcy Code only apply to the corporate debtor, not to natural persons like directors, who remain liable under the Act. The acceptance of the resolution plan does not absolve directors of their statutory liability, emphasizing that the moratorium does not shield them from criminal complaints under the Act. en-us Mon, 28 Mar 2022 00:00:00 +0530 Mon, 12 Jun 2023 21:13:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308279 The Supreme Court dismissed a writ petition seeking to quash criminal complaints under Section 138 of the Negotiable Instruments Act against a company and its directors despite the National Company Law Tribunal's approval of a resolution plan. The Court clarified that the moratorium provisions under the Insolvency and Bankruptcy Code only apply to the corporate debtor, not to natural persons like directors, who remain liable under the Act. The acceptance of the resolution plan does not absolve directors of their statutory liability, emphasizing that the moratorium does not shield them from criminal complaints under the Act. Case-Laws Indian Laws Mon, 28 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308279