WHETHER SECTION 420 IPC ATTRACTS WHEN INSOLVENCY PROCEEDINGS IS PENDING ?
M. PIRAVI PERUMAL
(Querist) 23 March 2009
This query is : Resolved
One of my client has filed Insolvency Petition before the Court of Law, in which he has arrayed the persons from whom he received payments as advance for delivery of machines and also money lenders from whom he has borrowed money.
Now, one of the respondent in the insolvency proceedings has lodged a police complaint. The police has registered a case u/s 420 IPC against my client. Whether a case u/s 420 IPC can be made out when in the insolvency proceedings defacto complainant is respondent.
That my client has also revealed in the insolvency proceedings about the receipt of the amount.
Shall I file move HC for quashing the FIR ?
or
Shall I move for anticipatory bail ?
Expecting the valuable opinion of the learned experts.
Learned Experts kindly provide me any citations too in this regard. I am ready to provide any further clarifications required by the Learned Experts.
PALNITKAR V.V.
(Expert) 25 March 2009
It is better to go for anticipatory bail since insolvency petition may not be enough to quash the FIR.
Hiralal Das
(Expert) 05 April 2009
I do agree with the learned members.
