The criminal original petitions were filed under Section 482 of the Criminal Procedure Code by the former Managing Director of M/s. Tecpro Systems Limited, seeking to quash complaints filed by M/s. Tap Engineering under Section 138 r/w.141 of the Negotiable Instruments Act, 1881. The complaints arose from dishonored cheques issued by Tecpro Systems Limited to Tap Engineering for goods supplied. During the pendency of these complaints, Tecpro Systems Limited underwent Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The resolution plan submitted by Kridhan Infrastructures Private Limited was approved, and the petitioner argued that the insolvency proceedings should quash the criminal proceedings against him.
M/s. Tap Engineering filed complaints against M/s. Tecpro Systems Limited and its former Managing Director, Mr. Ajay Kumar Bishnoi, under Section 138 of the Negotiable Instruments Act, 1881, due to dishonored cheques. Tap Engineering is a proprietary concern engaged in manufacturing and selling pumps, motors, and accessories, and had business transactions with Tecpro Systems Limited. Tecpro Systems Limited issued eight post-dated DBS bank cheques to Tap Engineering towards discharge of their liability, but the cheques were dishonored due to 'insufficient funds'. Despite partial payment for one dishonored cheque, Tecpro Systems Limited failed to make payments for the remaining cheques. Tecpro Systems Limited subsequently underwent Corporate Insolvency Resolution Process
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Respondent initiated C.C No.160 of 2017 under…
C.C No.160 of 2017 dated 21.05.2014 initiated…
The criminal original petitions were filed under Section 482 of the Criminal Procedure Code by the former Managing Director of M/s. Tecpro Systems Limited, seeking to quash complaints filed by M/s. Tap Engineering under Section 138 r/w.141 of the Negotiable Instruments Act, 1881. The complaints arose from dishonored cheques issued by Tecpro Systems Limited to Tap Engineering for goods supplied. During the pendency of these complaints, Tecpro Systems Limited underwent Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The resolution plan submitted by Kridhan Infrastructures Private Limited was approved, and the petitioner argued that the insolvency proceedings should quash the criminal proceedings against him.
M/s. Tap Engineering filed complaints against M/s. Tecpro Systems Limited and its former Managing Director, Mr. Ajay Kumar Bishnoi, under Section 138 of the Negotiable Instruments Act, 1881, due to dishonored cheques. Tap Engineering is a proprietary concern engaged in manufacturing and selling pumps, motors, and accessories, and had business transactions with Tecpro Systems Limited. Tecpro Systems Limited issued eight post-dated DBS bank cheques to Tap Engineering towards discharge of their liability, but the cheques were dishonored due to 'insufficient funds'. Despite partial payment for one dishonored cheque, Tecpro Systems Limited failed to make payments for the remaining cheques. Tecpro Systems Limited subsequently underwent Corporate Insolvency Resolution Process
…Respondent initiated C.C No.160 of 2017 under…
C.C No.160 of 2017 dated 21.05.2014 initiated…