Cheque bouncing cases not akin to civil proceedings; IBC process does not extinguish criminal case: Supreme Court

If insolvency proceedings against a company have been admitted, it does not absolve the Managing Director from proceedings under the Negotiable Instruments Act, the Court noted.
Cheque Bounce
Cheque Bounce

The Supreme Court on Thursday reiterated that the initiation of the insolvency process to recover a debt would not absolve accused from criminal liability in cheque dishonour cases. (Ajay Kumar Radheshyam Goenka v. Tourism Finance Corporation of India Ltd)

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