https://www.taxtmi.com/caselaws?id=779376 Bombay HC allowed the petition, quashing the JMFC's orders that stayed proceedings, and directed criminal prosecution under Section 138 NI Act to continue against the corporate debtor and the individuals running it (chairman and managing director). The court held that the insolvency moratorium under the IB Code does not protect natural persons covered by Section 141, so proceedings may be initiated or continued against them; only after a resolution plan and application of Section 32A could liability as to the corporate debtor be affected, not the personal penal liability of the individuals. en-us Fri, 26 Sep 2025 00:00:00 +0530 Mon, 06 Oct 2025 09:10:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779376 Bombay HC allowed the petition, quashing the JMFC's orders that stayed proceedings, and directed criminal prosecution under Section 138 NI Act to continue against the corporate debtor and the individuals running it (chairman and managing director). The court held that the insolvency moratorium under the IB Code does not protect natural persons covered by Section 141, so proceedings may be initiated or continued against them; only after a resolution plan and application of Section 32A could liability as to the corporate debtor be affected, not the personal penal liability of the individuals. Case-Laws Indian Laws Fri, 26 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779376