Criminal proceedings u/s. 138 of NI Act doesn’t extinguishment with extinguishment of debt under IBC

Charandeep Singh Jolly Vs C.B. Healthcare Through SPA Hatinder Chawla (Himachal Pradesh High Court)

Himachal Pradesh High Court held that extinguishment of debt under Insolvency and Bankruptcy Code [IBC] wouldn’t ipso facto apply to extinguishment of criminal proceedings under section 138 of the Negotiable Instruments Act [NI Act]. Accordingly, present petition fails.

Facts- The complainant supplied the pharmaceutical product to the accused. The accused issued cheques for ₹6,53,190/-, ₹2,23,299/- and ₹3,93,458/- to discharge their legal liability, ho

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