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High Court Of Punjab & Haryana Holds That Moratorium Under The IBC Does Not Bar The Criminal Proceedings Against The Directors Under The NI Act
The High Court of Punjab and Haryana through its judgment dated 20.07.2026 in Ajay Gupta and Another v. Can Bank Factors Limited dismissed a Petition filed under Section 482 of the Code of Criminal Procedure, 1973 seeking quashing of criminal proceedings under Sections 138 and 141 of the Negotiable Instruments Act, 1881 on the ground that insolvency proceedings had been initiated against the company under the IBC.

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