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Supreme Court of India

P. Mohanraj & Ors. v. M/s. Shah Brothers Ispat Pvt. Ltd.

Neutral citation
Reported as [2021] 14 S.C.R. 204
Bench Rohinton Fali Nariman, Navin Sinha and K. M. Joseph JJ.
Decided 1 March 2021

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

3 Supreme Court benches have cited this judgment.

What the Court ordered

We hold that a Section 138/141 proceeding against a corporate debtor is covered by Section 14(1)(a) of the IBC.

Judgment, page 114

From the headnote

Insolvency and Bankruptcy Code, 2016 – s.14 – Negoti able Instrument Act, 1881 – Chapter XVII – ss.138, 141 – Institution/ continuation of proceeding u/s.138/141, NI Act, if c overed by the moratorium provision i.e. s.14, IBC – Natural persons if covered by s.14 – Held: s.138/141 proceeding against a corporate debtor is covered by s.14(1)(a), IBC – quasi-criminal proceeding contained in Chapter XVII of the NI Act would amount to a “pr oceeding” within the meaning of s.14(1)(a), the moratorium therefore attaching to such proceeding – As far as the Directors/persons in m anagement or control of

Authorities it was built on

Where later benches applied it

Of those, 1 relied on · 1 distinguished · 1 referred to

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