https://www.taxtmi.com/caselaws?id=754709 Section 14 moratorium under the Insolvency and Bankruptcy Code operates against the corporate debtor and does not automatically bar prosecution of natural persons under Sections 138 and 141 of the Negotiable Instruments Act. However, vicarious liability for directors or officers cannot be fastened without clear, specific averments showing each applicant's role, knowledge, and responsibility in relation to the dishonoured cheques. Where the complaint contains only general assertions and the applicants are not signatories, continuation of the prosecution amounts to abuse of process. On the pleadings disclosed, the criminal complaint and resultant process were set aside for want of the requisite Section 141 averments. en-us Fri, 21 Jun 2024 00:00:00 +0530 Fri, 28 Jun 2024 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754709 Section 14 moratorium under the Insolvency and Bankruptcy Code operates against the corporate debtor and does not automatically bar prosecution of natural persons under Sections 138 and 141 of the Negotiable Instruments Act. However, vicarious liability for directors or officers cannot be fastened without clear, specific averments showing each applicant's role, knowledge, and responsibility in relation to the dishonoured cheques. Where the complaint contains only general assertions and the applicants are not signatories, continuation of the prosecution amounts to abuse of process. On the pleadings disclosed, the criminal complaint and resultant process were set aside for want of the requisite Section 141 averments. Case-Laws Indian Laws Fri, 21 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754709