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Bombay HC: No NI Act Liability for Ex-Directors When Cheques Dishonoured During IBC Moratorium and Liquidation

Erstwhile directors of a corporate debtor cannot be held criminally liable under Sections 138 and 141 of the Negotiable Instruments Act for dishonoured cheques issued during CIRP or liquidation, when control had vested with the Resolution Professional or Liquidator under the IBC...
Erstwhile directors of a corporate debtor cannot be held criminally liable under Sections 138 and 141 of the Negotiable Instruments Act for dishonoured cheques issued during CIRP or liquidation, when control had vested with the Resolution Professional or Liquidator under the IBC...

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