Proceedings in bounced cheque cases under Negotiable Instruments Act will continue even if there is a scheme to revive the sick company

Proceedings in bounced cheque cases under Negotiable Instruments Act will continue even if there is a scheme to revive the sick company JIK Industries Limited & Ors. Vs. Amarlal V. Jumani (Supreme Court)- It was held that  cases of bounced cheque are independent of the revival bid of a sick company. Proceedings in bounced cheque cases under the Negotiable Instruments Act will continue even if there is a scheme to revive the sick company. The revival attempt under the Companies Act will not affect prosecution of charges under Section 138 of the Act. The charges cannot be compounded as in o...