I taken loan from different banks.My present due status is worth Rs. 7400000/(sevety four lakhs). From someone's advice I got ''Insolvency Order'' from Calcutta High Court without service any notices to debtors. After received this order too, different banks sent their notices under NI Act.because my submitted security cheques were bounced/dishonoured.
MY question is - NI ACT OR any Creminal law proceedings are applicable on ''INSOLVENT''.Please give me this answer at earlest. URGENT.. . . .
1 Answer from Attorneys
You may consult the counsel who obtained you 'insolvency orders'.
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