TaxTMI 
TaxTMI 
2021 (12) TMI 327
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....PANI For the Petitioner : Mr.T. P. Prabakaran For the Respondent : Mr. M. Guruprasad ORDER The petitioners have filed these petitions to call for the entire records in pursuant to the criminal proceedings in S.T.C.Nos.610/2017, 116/2018, 614/2017, 613/2017, 612/2017, 611/2017, 23/2018, 79/2018, pending on the file of the Court of Judicial Magistrate, Erode/Fast Track Court-1 and S.T.C.Nos.13/2018, 37/2018, 680/2018, 420/2018, 387/2018, 275/2018, on the file of the Court of Judicial Magistrate, Erode/Fast Track Court-II, and quash the same. 2. The case of the petitioner is that she is arrayed as one of the accused in cases pending before the Court of Judicial Magistrate, Erode/Fast Track Court-1 and before the Court of Judicia....
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.... had issued a letter to the respondent through their counsel on 29.07.2017, stating that vide order dated 10.07.2017, issued by National Company Law Tribunal, Chennai Bench, the Corporate Insolvency Resolution Process against the accused Company has commenced and hence the 2nd accused was unable to honor the post dated cheques in favour of the respondent Company. Further, the complainant has filed the complaint on 21.12.2017, before that on 10.07.2017, the NCLT, Chennai, had initiated insolvency proceedings against the accused Company. On 24.07.2017, a public announcement was issued by the Insolvency Resolution Professional, requesting all the financial creditors of the accused Company to submit their their proof of claims and further on th....
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....ion for quashment of the case in respect of the 1st petitioner Company. However, he vehemently opposed quashing of the case as against petitioners 2 and 3 and made a submission that the petitioners 2 and 3 are liable to be proceeded against for their personal acts as per the aforesaid decision of the Hon'ble Supreme Court, cited by the learned counsel for the petitioner, wherein it has been categorically concluded that the moratorium provision contained in Section 14 of the Insolvency Bankruptcy Code, would apply only to corporate debtor, the natural persons mentioned in Section 141 continuing to be statutorily liable under Chapter XVII of the Negotiable Instrument Act and, therefore, prays for dismissal of this petition with respect to....
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.... insolvency resolution process are interdicted, what is stated in paragraphs 51 and 59 in Aneeta Hada (supra) would then become applicable. The legal impediment contained in Section 14 of the IBC would make it impossible for such proceeding to continue or be instituted against the corporate debtor. Thus, for the period of moratorium, since no Section 138/141 proceeding can continue or be initiated against the corporate debtor because of a statutory bar, such proceedings can be initiated or continued against the persons mentioned in Section 141(1) and (2) of the Negotiable Instrument Act. This being the case, it is clear that the moratorium provision contained in Section 14 of the IBC would apply only to the corporate debtor, the natural per....
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....ned, this Court is of the opinion that the issue is a triable issue and it requires appreciation of evidence and this Court cannot decide the same in exercise of its jurisdiction under Section 482 of Criminal Procedure Code. It is left open to the petitioners 2 and 3 to raise all the grounds before the Court and the same shall be considered on its own merits and in accordance with law. This Court is not inclined to interfere with the proceedings pending before the Court below. 13. For the reasons aforesaid, these Criminal Original Petitions are allowed in respect of 1st petitioner is concerned and S.T.C.Nos.610/2017, 116/2018, 614/2017, 613/2017, 612/2017, 611/2017, 23/2018, 79/2018, pending on the file of the Court of Judicial Magistrat....