NCLT /138


Company director issued post dated cheques against full and final settlement after filing insolvency.

The cheques got bounced as the account was freezed pending insolvency.

Can we file a case against the director under 138
And also under 420/120B
 
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Advocate

Not the Director, but the Company itself should be sued in its name.

Lord Denning in Tamlin v. Hansaford in which the learned Judge observed:

"In the eye of the law, the corporation is its own master and is answerable as fully as any other person or corporation. It is not the Crown and has none of the immunities or privileges of the Crown. Its servants are not civil servants, and its property is not Crown property. It is as much bound by Acts of Parliament as any other subject of the King. It is, of course, a public authority and its purposes, no doubt, are public purposes, but it is not a government department nor do its powers fall within the province of government".

 
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ADVOCATE

Since the company itself filed the Company petition before NCLT, for appointing the IPR and for recovery of the dues, I do not think that there will be no use.  The bouncing of Cheque will also be another good ground for the Corporate Creditor to get admission of the Company petition file before NCLT.  

 
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ADVOCATE

Originally posted by : K PHANI KUMAR
Since a  company itself filed the Company petition before NCLT, for appointing the IPR and for recovery of the dues, I do not think that there will be no use of filing of Cheque bounces cases under S.138 or any..  The bouncing of Cheque  or any other cause of acton will also be another good ground for the Corporate Creditor to get admission of the Company petition file before NCLT.  

 

 
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