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Case Law Details

Case Name : Ajay Kumar Bishnoi Vs Tap Engineering (Madras High Court)
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Ajay Kumar Bishnoi Vs Tap Engineering (Madras High Court)

Question is whether by operation of the provisions of Insolvency and Bankruptcy Code, 2016, the criminal prosecution initiated under Section 138 r/w.141 of the Negotiable Instruments Act, 1881 r/w. 200 of Cr.Pc, can be terminated. The categorical answer is “No”. In JIK  Industries Limited vs. Amarlal V.Jumani (2012) 3 SCC 255, the Hon’ble Supreme Court held that sanction of a scheme under Section 391 of the Companies Act, 1956 will

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