No Bar to Liability of Signatory of Cheque under NI Act due to Initiation of Proceedings under IBC: Madhya Pradesh HC [Read Order]

The bench held that the mere initiation of proceedings under the IBC, couldn't serve as a ground for the signatory of the cheque to evade liability.
Madhya Pradesh High Court - No Bar to Liability - NI Act - IBC - Cheque Bounced - Tax news - Taxscan

The Madhya Pradesh High Court has held that there is no bar to the liability of the signatory of the cheque under the Negotiable Instruments Act, 1881 due to the initiation of proceedings under the Insolvency and Bankruptcy Code, 2016. Anurodh Mittal, the Applicant filed an application under Section 482 of Cr.P.C. seeking relief of…

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