Supreme Court Quashes Cheque Bounce Case Against Director

Vishnoo Mittal Vs Shakti Trading Company (Supreme Court of India) The Supreme Court ruled in favor of Vishnoo Mittal, a director of Xalta Food and Beverages Pvt. Ltd., quashing a cheque bounce case filed against him under Section 138 of the Negotiable Instruments Act, 1881. Mittal had issued 11 cheques totaling ₹11,17,326 to Shakti Trading Company, which were dishonored in July 2018. After the company entered insolvency proceedings on July 25, 2018, a moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC) was imposed, preventing legal action against the corporate debtor. How...