https://www.taxtmi.com/caselaws?id=309092 Section 138 proceedings under the Negotiable Instruments Act were not liable to be quashed on the basis of moratorium or interim moratorium under the Insolvency and Bankruptcy Code. The Court held that the protection under Sections 96 and 101 is not so wide as to extinguish penal prosecution, and at most could support a stay where legally applicable. It also rejected the suspended-director defence, noting that the cheques were issued when the petitioners were still managing the company and the complaint contained averments of their responsibility for day-to-day affairs. The objection based on non-service of notice also failed because payment was not made after summons. en-us Fri, 21 Apr 2023 00:00:00 +0530 Wed, 09 Aug 2023 21:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309092 Section 138 proceedings under the Negotiable Instruments Act were not liable to be quashed on the basis of moratorium or interim moratorium under the Insolvency and Bankruptcy Code. The Court held that the protection under Sections 96 and 101 is not so wide as to extinguish penal prosecution, and at most could support a stay where legally applicable. It also rejected the suspended-director defence, noting that the cheques were issued when the petitioners were still managing the company and the complaint contained averments of their responsibility for day-to-day affairs. The objection based on non-service of notice also failed because payment was not made after summons. Case-Laws Insolvency and Bankruptcy Fri, 21 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309092