# In the matter of MBL Infrastructure Ltd. & Anr. vs. Sri Manik Chand Somani

> HC judgment dated 2018-04-16. Citation: TCN-2018-HC-00017. The case involves a petition filed under Section 482 of the Code of Criminal Procedure by M/s. MBL…

- **Court:** HC
- **Order date:** 16 Apr 2018
- **Citation:** TCN-2018-HC-00017
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-chandigarh-bench/mbl-infrastructure-ltd-anr-vs-sri-manik-chand-somani-897b04fb

## Summary

### Background

The case involves a petition filed under Section 482 of the Code of Criminal Procedure by M/s. MBL Infrastructure Ltd. and another, seeking to quash proceedings related to C.C.No.387 of 2017 pending before the Learned Judicial Magistrate, 4th Court, Serampore, Hooghly. The complainant, Sri Manik Chand Somani, filed a petition alleging offences under Section 138 of the Negotiable Instruments Act. The petitioners challenged the legality and validity of these proceedings, citing the initiation of corporate insolvency resolution process against MBL Infrastructure Ltd. under the Insolvency and Bankruptcy Code (IBC), and the imposition of a moratorium.

## Facts

Sri Manik Chand Somani, the complainant, filed a complaint against M/s. MBL Infrastructure Ltd. and its Managing Director, alleging offences under Section 138 of the Negotiable Instruments Act. The complaint stemmed from the dishonor of two cheques issued by the company in favor of the complainant for Rs.2,50,00,000/- and Rs.67,98,008/-. The cheques were presented for encashment but were returned unpaid due to 'funds insufficient'. The complainant served a demand notice, to which the accused replied, admitting the issuance of the cheque but not making any payment. Subsequently, RBL Bank Limited initiated corporate insolvency resolution process against MBL Infrastructure Ltd. before the Kolkata Bench of the National Company Law Tribunal (NCLT). The NCLT declared a

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## Issues and analysis

### Issue 1: Whether the moratorium declared under Section 14 of the Insolvency and Bankruptcy Code, 2016, bars …

**Ratio:** The declaration of moratorium under Section 14 of the Insolvency and Bankruptcy Code does

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**Reasoning:** The court reasoned that the provisions of moratorium as contained in Section 14 of the

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**Interpretation:** The interpretation of Section 14 of the IBC is that it primarily aims to

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**Application:** In this case, the court applied the ratio by stating that even though the

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## Parties

- **Judges:** Madhumati…
- **Respondents:** M/s.MBL Infrastruc…; Manik Chand…

## Timeline

- **2017-03-02 — Cheque D…**: Cheque no.001188 was…
- **2017-03-20 — Cheque D…**: Cheque no.001189 was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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