https://www.taxtmi.com/caselaws?id=754142 The MP HC dismissed an application challenging conviction for dishonour of cheque where the borrower had initiated insolvency proceedings under the Code, 2016. The court held that insolvency proceedings do not automatically extinguish criminal proceedings under the Negotiable Instruments Act, citing SC precedents. The signatory cannot escape liability merely due to initiation of insolvency proceedings. The trial court's conviction was upheld, and the appellate court correctly directed deposit of Rs. 13,73,890 as condition for suspension of sentence. en-us Tue, 21 May 2024 00:00:00 +0530 Tue, 18 Jun 2024 13:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754142 The MP HC dismissed an application challenging conviction for dishonour of cheque where the borrower had initiated insolvency proceedings under the Code, 2016. The court held that insolvency proceedings do not automatically extinguish criminal proceedings under the Negotiable Instruments Act, citing SC precedents. The signatory cannot escape liability merely due to initiation of insolvency proceedings. The trial court's conviction was upheld, and the appellate court correctly directed deposit of Rs. 13,73,890 as condition for suspension of sentence. Case-Laws Indian Laws Tue, 21 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754142