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Loan default: Directors remain personally liable under NI Act even if company’s debt is settled through IBC proceedings, rules Bombay High Court

The Bombay High Court has said that directors of a company are still accountable for penalties and criminal proceedings under the Negotiable Instruments Act of 1881 even if their company’s debts have been settled under the Insolvency And Bankruptcy Code, 2016. This ruling came in the light of a case filed by a person who…

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Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…