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IBC Proceedings Don’t Shield Directors from Cheque Bounce Prosecution: SC
Case Law Details
- Case Name
- Abhaykumar Anandkumar Bhambore & Anr. Vs Ortho Relief Hospital And Research Centre & Anr. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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Abhaykumar Anandkumar Bhambore & Anr. Vs Ortho Relief Hospital And Research Centre & Anr. (Supreme Court of India)
The dispute arose from a complaint under Section 138 of the Negotiable Instruments Act, 1881, filed after a cheque issued towards repayment of a ₹15 lakh loan was dishonoured. The cheque, issued by a director on behalf of a company, was returned unpaid on 14.12.2018, and a complaint was subsequently filed on 18.02.2019. Prior to this, insolvency proceedings had already been initiated against the company under the Insolvency and Bankruptcy Code, 2016 (IBC), with a morator...
When company is discharged from liability, due to IBC, how Criminal proceedings will continue against the Directors without proving that the company is liable to pay, which can be said only after hearing the A1.