https://www.taxtmi.com/caselaws?id=752559 Section 14 of the Insolvency and Bankruptcy Code, 2016 bars proceedings only against the corporate debtor during moratorium and does not extend that protection to erstwhile directors or persons responsible for its business, so cheque dishonour proceedings under Sections 138 and 141 of the Negotiable Instruments Act, 1881 may continue against them. Section 32-A grants post-resolution immunity to the corporate debtor only where the approved resolution plan brings a qualifying change in management or control to an unconnected person; where control remains with the earlier management, that protection does not arise. The liability of persons in charge remains preserved. en-us Mon, 29 Apr 2024 00:00:00 +0530 Mon, 13 May 2024 21:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752559 Section 14 of the Insolvency and Bankruptcy Code, 2016 bars proceedings only against the corporate debtor during moratorium and does not extend that protection to erstwhile directors or persons responsible for its business, so cheque dishonour proceedings under Sections 138 and 141 of the Negotiable Instruments Act, 1881 may continue against them. Section 32-A grants post-resolution immunity to the corporate debtor only where the approved resolution plan brings a qualifying change in management or control to an unconnected person; where control remains with the earlier management, that protection does not arise. The liability of persons in charge remains preserved. Case-Laws Indian Laws Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752559