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Cheque-bounce cases can t be filed or continued against firms facing IBC proceedings, says SC The top court did not extend the benefit of moratorium on judicial proceedings in cheque bounce cases to directors or signatories of cheques of such firms, saying criminal cases would continue against natural persons PTI | March 2, 2021 | Updated 08:10 IST The Supreme Court Monday held the cheque bounce cases can neither be instituted nor be continued against companies which are facing insolvency proceedings and are protected under a provision of Insolvency and Bankruptcy Code (IBC) putting a moratorium on legal proceedings against them. The top court, however, did not extend the benefit of moratorium on judicial proceedings in cheque bounce cases to directors or signatories of cheques of such firms, saying criminal cases would continue against natural persons . ....
Cheque-bounce cases can't be filed or continued against firms facing IBC proceedings, says SC businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Cheque dishonor cases can t be filed or continued against firms facing insolvency proceedings: SC SECTIONS Last Updated: Mar 01, 2021, 10:01 PM IST Share Synopsis The top court, however, did not extend the benefit of moratorium on judicial proceedings in cheque bounce cases to directors or signatories of cheques of such firms, saying criminal cases would continue against natural persons . Agencies Under IBC, the moment a corporate insolvency resolution process is initiated against a company, it gets statutory protection under section 14 and consequently, a moratorium is put on judicial proceedings against it. The Supreme Court Monday held the cheque bounce cases can neither be instituted nor be continued against companies which are facing insolvency proceedings and are protected under a provision of Insolvency and Bankruptcy Code (IBC) putting a moratorium on legal proceedings against them. ....