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The Kerala High Court on Thursday granted a stay on proceedings against two additional directors of a Company who were facing prosecution under Section 138 of the Negotiable Instruments Act for...
A bench of Justices Abhay S Oka and Rajesh Bindal issued notice on the plea.
The petitioners argued that the High Court did not quash proceedings against the non-signatory despite settled law.
The Supreme Court held that its power to transfer criminal cases under Section 406, CrPC remains intact in relation to cheque dishonour cases under Section 138 of the Negotiable Instruments Act.
The Supreme Court on Wednesday held that when parties to a litigation have entered into an agreement to compound an offence, the High Court cannot override such an agreement and impose its will on parties.