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Suspension of IBC proceedings may not be extended beyond March 24


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Cheque-bounce cases can't be filed or continued against firms facing IBC proceedings, says SC


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 . ....

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