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IN THE HIGH COURT OF ALLAHABAD
Hon'ble Vikas Budhwar,J.
Mohnish Jain – Appellant
Versus
State of U.P. – Respondent
JUDGMENT :
Vikas Budhwar, J.
1. Impugned in the present proceedings by way of leading application preferred by Mohnish Jain, Pawan Kumar Jain and connected application by Siddharth Jain is an order dated 21.07.2023 passed by the Court of Additional Civil Judge (J.D.), Court No. 4, Agra in Complaint Case No 18168 of 2023, whereby the applicants in both the applications have been summoned under Section 138 of the Negotiable Instrument Act, 1881 and the order dated 24.07.2024 passed by the Court of Additional Sessions Judge, Court No. 17, Agra in Criminal Revision Case No. 628 of 2023 (Pawan Kumar Jain and others Vs. State of U.P.) whereby the revision preferred by the applicants herein in leading application against the summoning order dated 21.07.2023 has been dismissed.
2. A joint statement has been made by the learned counsel for the parties that they do not propose to file any additional affidavit and the application be decided on the basis of the documents available on record. With the consent of the parties, the applications are being decided at the fresh stage.
3. Broadly, the facts are that the opposite party no. 2, Rohit Agarwal, claims himself to be a partner of a firm by the n
A partner of a firm can file a complaint under Section 138 of the Negotiable Instruments Act if authorized, as they act as agents of the firm, and the moratorium under IBC does not protect directors ....
The imposition of moratorium under Sec. 14 of the I.B. Code applies to the corporate debtor, while the natural persons mentioned in Sec. 141 of the N.I. Act continue to be statutorily liable.
Directors cannot be prosecuted under Section 138 of the NI Act without the company being joined as an accused, as vicarious liability requires the company to be a party to the proceedings.
(1) Dishonour of cheque – Offence by company – For fastening criminal liability, there is no legal requirement for complainant to show that accused partner of firm was aware about each and every tran....
The moratorium provisions under Section 14 IBC apply only to the corporate debtor, and natural persons continue to be liable under the NI Act, and personal insolvency proceedings do not absolve natur....
Prosecution against a partner of a partnership firm under Section 138 of the N.I. Act is not maintainable without including the firm as an accused, affirming the principle of vicarious liability.
(1) Dishonour of cheque – Offence by company – By operation of provisions of IBC, criminal prosecution initiated against the natural persons under Section 138 read with 141 of NI Act read with Sectio....
After declaration of moratorium, directors lose liability for cheques issued on behalf of the company, as all powers transfer to the resolution professional.
The moratorium provision under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not apply to the natural persons mentioned in Section 141(1) and (2) of the Negotiable Instruments Act.
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