Acceptance Of Corporate Insolvency Resolution Not A Ground To Quash Case Under Sec 138 NI Act: Madras HC [Read Judgment]

In a significant ruling, the Madras High Court has held that acceptance of the Corporate Insolvency Resolution Plan under Section 31 of the Insolvency and Bankruptcy Code, 2016 cannot be a ground for quashing the prosecution initiated under Section 138 of the Negotiable Instruments Act, 1881 against the corporate debtor and its officials. "No clause in the Corporate Insolvency...