On Commencement of Insolvency Resolution Process, the Moratorium U/S 14 of I.B.C. Prohibiting the Proceeding U/S 138/141 N.I. Act Will Not Be Applicable Against Natural Persons Like Directors of the Company for Their Vicarious Liability: Allahabad HC
The Allahabad High Court on Tuesday stated that on commencement of the insolvency resolution process, the moratorium u/s 14 of I.B.C. prohibiting the proceeding u/s 138/141 N.I. Act will not be applicable against natural persons like the directors of the company for their vicarious liability. The bench of Justice Arun Kumar Singh Deshwal was dealing
To Read More Please Subscribe to VIP Membership for Unlimited Access to All the Articles, Download Available Copies of Judgments/Order, Acess to Central/State Bare Acts, Advertisement Free Content, Access to More than 4000 Legal Drafts( Readymade Editable Formats of Suits, Petitions, Writs, Legal Notices, Divorce Petitions, 138 Notices, Bail Applications etc.) in Hindi and English.
