Negotiable Instruments Act, Section 138/141 proceeding against a corporate debtor is covered under IBC 2016

G. Ajay Agarwal Vs Bhagwandas and Co. (Madras High Court) The question as to whether by operation of provision of I&B Code, the criminal prosecution initiated under Section 138 r/w 141 of Negotiable Instruments Act, r/w 200 of Cr.P.C can be terminated, is no longer res integra in view of Apec Court judgment in P. Mohanraj’s case , wherein the Hon’ble Supreme Court has categorically held that Section 138/141 proceeding against a corporate debtor is covered by Section 14(1)(a) of I&B Code. Moratorium order would not cover person in those cases who are not a corporate debtor, ...