JUDGMENT

DHARMESH SHARMA, J.

CO.APPL. 58/2024 (application moved on behalf of Ex- Management seeking stay on proceedings)

1. This application is moved on behalf of the applicant Mr. Ashwani Chawla, Ex-Management/Director under Sections 446 and 447 of the Companies Act, 1956 [The Act] seeking stay of the proceedings initiated against the company under liquidation as well as the applicant in various Courts exercising criminal jurisdiction in Delhi under Section 138 of the Negotiable Instrument Act 1881 [NI Act].

2. Shorn of unnecessary details, it is stated that the company in question has been ordered to be wound up vide order dated 28.02.2013 and a Provisional Liquidator has been ordered to take over the assets and other records of the company (in liquidation) vide order dated 27.03.2014 passed by this Court.

3. The grievance of the applicant/Ex-Management is that certain complaints have been instituted under Section 138 of the NI Act against the company as well as directors, which cannot be allowed to continue in view of Sections 446 and 447 of the Act.

4. Advance notice of the present application has not been served upon the Official Liquidator. However, a copy of the same is ordered t