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MANJARI NEHRU KAUL
Sachin Goyal – Appellant
Versus
Rajasthan Trading Co. – Respondent
JUDGMENT
Mrs. Manjari Nehru Kaul, J. (Oral)
The petitioners have invoked the inherent jurisdiction of this Court under Section 482 of the Cr.P.C. for quashing of complaint bearing No.NACT-1290 of 2022 dated 22.08.2022 titled as " Rajasthan Trading Co. v. Shree Om Prime Food Private Limited and others" under section 138 of the Negotiable Instruments Act, 1881 (for short, 'the NI Act') (Annexure P-4) along with summoning order 31.08.2022 (Annexure P-5) passed by the learned Judicial Magistrate First Class, Sirsa, revisional order dated 12.12.2022 (Annexure P-9) passed by learned Sessions Judge, Sirsa whereby the Revision bearing No.CRR-233 of 2022 titled as "Shreeom Prime Foods Pvt. Ltd. and others v. Rajasthan Trading Co." was dismissed. The petitioners have also prayed for staying of proceedings before the Trial Court.
2. Learned Counsel appearing on behalf of the petitioners contends that the petitioners were the directors of Shreeom Prime Foods Pvt. Ltd. (respondent No.2), which is now undergoing a resolution process before the National Company Law Tribunal (for short, 'NCLT'), Jaipur Bench and an interim resolution professional has already been appointed. Learned counsel while dra
The proceedings under the IBC and the proceedings under Section 138 of the NI Act are of different nature and purpose, and the criminal prosecution under Section 138 of the NI Act would not stand ter....
The nature of proceedings under the IBC and the NI Act is different, and the criminal prosecution under Section 138 of the NI Act would not stand terminated by the operation of the provisions of the ....
Criminal proceedings under Section 138 of the Negotiable Instruments Act are independent of insolvency proceedings and cannot be quashed due to a company's liquidation status.
The court ruled that proceedings under Section 138 of the NI Act are penal and cannot be stayed by the interim moratorium under Section 96 of the IBC, affirming the distinction between criminal and c....
Simultaneous proceedings under the NI Act and SARFAESI Act are permissible, as they serve different legal objectives.
Dishonour of cheque – Return of cheques dishonoured simpliciter does not create offence under Section 138 NI Act – Cause of action arises only when demand notice is served and payment is not made pur....
The moratorium under the Insolvency and Bankruptcy Code does not protect individuals who are directors or guarantors of a corporate debtor from criminal proceedings under the Negotiable Instruments A....
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