The Supreme Court on Wednesday said the huge pendency of cheque dishonour cases has become an intractable problem, which accounts for 30-40 per cent cases in the trial courts and a very high percentage in the high courts.A bench comprising .
Supreme Court orders panel formation on pendency of cheque bounce cases
Updated:
Updated:
March 03, 2021 17:11 IST
It asks Solicitor General and Additional Solicitor General to appear before it on March 4 to finalise departments and officials who ought to be made part of the committee
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It asks Solicitor General and Additional Solicitor General to appear before it on March 4 to finalise departments and officials who ought to be made part of the committee
NEW DELHI
The Supreme Court on Wednesday said a committee should be formed to resolve the problem of pendency of cheque bounce cases, which form 30% to 40% of the backlog in trial courts and a sizeable chunk of the pile-up in High Courts.
Cheque-bounce cases can t be filed or continued against firms facing IBC proceedings, says SC
The top court did not extend the benefit of moratorium on judicial proceedings in cheque bounce cases to directors or signatories of cheques of such firms, saying criminal cases would continue against natural persons
PTI | March 2, 2021 | Updated 08:10 IST
The Supreme Court Monday held the cheque bounce cases can neither be instituted nor be continued against companies which are facing insolvency proceedings and are protected under a provision of Insolvency and Bankruptcy Code (IBC) putting a moratorium on legal proceedings against them.
The top court, however, did not extend the benefit of moratorium on judicial proceedings in cheque bounce cases to directors or signatories of cheques of such firms, saying criminal cases would continue against natural persons .
India News: NEW DELHI: The SC on Monday ruled that no criminal proceedings for dishonour of cheque under Section 138 of the Negotiable Instruments Act could be in.