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SUPREME COURT
J. B. Pardiwala, *R. Mahadevan, JJ.
Rakesh Bhanot – Appellant
Versus
M/s Gurdas Agro Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. leave granted and common judgment issued. (Para 1 , 2) |
| 2. overview of the common legal questions and cases. (Para 3 , 4 , 5 , 6) |
| 3. clarification of the moratorium provisions. (Para 10) |
| 4. insolvency proceedings do not exempt criminal liability. (Para 11 , 12 , 13) |
| 5. conclusion: criminal prosecutions can't be stayed by insolvency. (Para 17 , 18 , 19 , 20 , 21) |
1. Leave granted.
2. Since the facts and issues involved in all these cases are common, they are clubbed together and disposed of, by this common judgment.
3. All these appeals are filed against the orders passed by different High Courts, which dismissed the petitions filed under S.482 of the Criminal Procedure Code, 1973 (For short, "CrPC") and thereby affirmed the orders passed by the trial Court rejecting the applications filed for staying the proceedings under S.138 of the Negotiable Instruments Act, 1881 (For short, "N.I. Act, 1881"), sine die till the conclusion of the proceedings initiated under S.94 of the Insolvency and Bankruptcy Code, 2016 (For short, "IBC"), before the National Company Law Tribunal. A writ petition has also been filed for declaration and direction that S.138 proceedings shall be dee
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