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1 - 3 of 3 (0.16 seconds)Section 14 in The Code of Criminal Procedure, 1973 [Entire Act]
Anil Bhalla vs Tricolite Electrical Industries Ltd. on 9 February, 2021
2. Mr. Rishi Sood, learned counsel appearing for the petitioners states
that the petitioner is a Director in M/s. Ajanta Offset and Packaging Ltd. He
states that an application for Corporate Insolvency Resolution Process
(CIRP) under IBC, 2016 has been filed before the National Company Law
Tribunal and an IRP has been appointed on 04.02.2020. He states that by
virtue of Section 14 of the Insolvency and Bankruptcy Code, institution and
continuation of proceedings against the corporate debtor are injuncted and
proceedings against the corporate debtor get automatically stayed. He states
that the cheques in question were presented to the bank and dishonoured on
13.02.2020 after the IRP was appointed. The learned counsel for the
petitioners states that in view of the moratorium, the complaint cannot be
Crl.M.C.474/2021 Page 1 of 2
proceeded with. Mr. Sood also relies on the order dated 09.02.2021 passed
by the Supreme Court in W.P.(Crl).68/20201 titled ANIL Bhalla and ANR
v. TRICOLITE ELECTRICAL INDUSTRIAL LTD AND ORS.
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