Ganesh Chandra Bamrana Vs Rukmani Gupta
Ganesh Chandra Bamrana Vs Rukmani Gupta (2024 : DHC : 9923) on 17 Dec 2024
In the captioned case, CIRP proceedings u/s 7 of IBC were initiated against the Company and moratorium u/s 14 of IBC was imposed in October 2019. However, the cheques were issued and bounced in March 2020 for the reason – “Drawer Signature to operate account not received”. Thus, the moratorium was imposed earlier in October 2019 whereas the cheque-bouncing case was filed subsequently in 2020.
Because of the moratorium, the IRP was managing the affairs of the corporate debtor company and the company’s directors or officials were not “in charge of” or “responsible for the conduct of the business of the company” at the time when the offence u/s 138 of NI Act was committed, hence, they cannot be held liable for such offences. Therefore, in the present case, the summoning order passed by the MM was quashed by DHC.
The facts of Ajay Kumar Radhey Shyam Goenka Vs Tourism Finance Corporation of India Ltd (2023) SCC OnLine SC 266 on 15 Mar 2023 case are altogether different, so, are not applicable in Ganesh Chandra Bamrana case.
Head of Legal Department at Groupe Veritas
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