The High Court of Delhi has quashed the summoning orders and criminal proceedings under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) against the former directors of Future Retail Ltd., ruling that directors cannot be held liable for dishonour of cheques if the Corporate Insolvency Resolution Process (CIRP) had commenced and an Interim
Directors Cannot Be Summoned Under Section 138 NI Act If CIRP Initiated Before Expiry of Statutory Notice Period: Delhi High Court
