Legal Question in Criminal Law in India

NI Act

Is it true that after obtaining of ''Insolvency'' order no bank can sue any case under NI Act. If the bank send any summons after notice , the Insolvency order will save & protect. And no futher hearing or punishement will occure.


Asked on 6/08/09, 3:17 am

7 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: NI Act

The criminal proceedings under the N.I. Act / I.P.C. may not be protected by insolvency proceedings.

Only recovery by decree in a civil suit obtained by the creditors may be subject matter of insolvency proceedings.

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Answered on 6/10/09, 5:07 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: NI Act

you may be exempted from civil matters like recovery etc but not from criminal matters.

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Answered on 6/09/09, 6:59 am
KAMAL GROVER

Re: NI Act

Yes it is correct but after insolvent you will be black listed and no bank will deal with you.

For detailed query Feel Free to Contact at

[email protected]

M: 09814110005

Regional office Chandigarh

We deal cases in the courts all over India.

We strive for your rights.

Good Luck.

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Answered on 6/08/09, 3:26 am
G. M. Gupta gmguptaandassociates

Re: NI Act

YES as far as civil proceedings are concerned and i think it applies to other criminal proceedings in respect of monatary transactions.

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Answered on 6/09/09, 8:48 am
Shrichand Nahar S.V.Nahar, Advocate

Re: NI Act

Protection in suits may be possible. Not in criminal matters.

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Answered on 6/08/09, 5:32 am
Pranav Desai PD Legal & Associates

Re: NI Act

Yes.

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Answered on 6/08/09, 8:22 am
RAMAN KUMAR BHARDWAJ R.K. BHARDWAJ & ASSOCIATES

Re: NI Act

normally the protection is avialable in recovery etc. but not in criminal matters

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Answered on 6/08/09, 11:00 am


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