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

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