Corporate debtor gets relief from cheque bounce cases during IBC moratorium.

The High Court granted relief to a corporate debtor from cheque bounce cases during the IBC moratorium, applying the interim moratorium under Section 96 of the IBC to proceedings under Section 138 of the NI Act. The court set aside a revisional court order and stayed Section 138 proceedings until the NCLT moratorium under Section 96 IBC remains in effect. The decision followed the precedent set in P. Mohanraj, reiterating the overriding effect of IBC provisions. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X