Provisions of the insolvency law that protect a corporate debtor from other proceedings will also cover dishonoured cheques, the supreme court ruled, taking a view contrary to two earlier high court verdicts.Moratorium allowed under Section 14 of the Insolvency and Bankruptcy Code will apply to proceedings under Section 138 of the Negotiable Instruments Act used to recover an amount for a bounced cheque, the top court ruled. The top …
Provisions of the insolvency law that protect a corporate debtor from other proceedings will also cover dishonoured cheques, the supreme court ruled, taking a view contrary to two earlier high court verdicts.
Moratorium a…
Read the full article at: https://www.bloombergquint.com/law-and-policy/moratorium-under-insolvency-code-covers-cheque-bounce-cases-supreme-court