Court Halts Cheque Dishonor Proceedings During CIRP; Stays Actions u/s 138 NI Act Pending Insolvency Decision.

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....Effect of interim moratorium - Dishonor of Cheque - ongoing CIRP proceedings - this court would have to interpret the terms “all the debts” and “any legal action or proceedings pending in respect of any debt” as occur in Section 96 of the Code, to mean that it would cover all such debts including any debt not pertaining to a corporate debtor for whom the accused in such a complaint under Section 138 stood as a personal guarantor to, even in his capacity as a Director of such corporate debtor - unless the wordings of a statute are “unworkable” or wholly impractical, nothing extra can be read into a statute or taken away therefrom. - Till a decision is taken by the Adjudicating Authority in terms of Sections 100 and 101 of the Code, on the ap.........