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Sec 138 NIA ‘Civil Sheep’ In ‘Criminal Wolf’s Clothing’; Quasi-Criminal in Nature

SC has observed that criminal proceedings for the dishonour of cheque u/s 138 of NIA, 1881, are “quasi-criminal” in nature. The Court also made an interesting comment that Section 138 proceedings can be called “civil sheep” in a “criminal wolf’s clothing”. A bench made these observations while deciding the issue of whether the moratorium declared u/s 14 of IBC would bar Section 138 NI Act proceedings against the corporate debtor.

Source- Live Law

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