# In the matter of Naresh Kumar Gupta & Anr. vs. Sood Resins and Polymers & Ors. Writ Petition(s)(Criminal) No(s). 297-2020]

> SC judgment dated 2020-10-16. Citation: TCN-2020-SC-00016. The case involves a Writ Petition (Criminal) filed before the Supreme Court of India. The petition…

- **Court:** SC
- **Order date:** 16 Oct 2020
- **Citation:** TCN-2020-SC-00016
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/naresh-kumar-gupta-anr-vs-sood-resins-and-polymers-ors-writ-petition-36885bab

## Summary

### Background

The case involves a Writ Petition (Criminal) filed before the Supreme Court of India. The petition was called for hearing on October 16, 2020. The application seeking exemption from filing Official Translation was allowed. The court ordered a stay of further proceedings in the Criminal Complaints/Appeals mentioned in para 2.12 of the Writ Petition filed against the Corporate Debtors and its Directors under Section 138 of the Negotiable Instruments Act, 1881, in view of the moratorium order dated March 27, 2019, passed by the NCLT, New Delhi in CP (IB)-386(PB)/2018 in terms of Section 14(1) of the Insolvency and Bankruptcy Code, 2016, until the final adjudication.

## Facts

Naresh Kumar Gupta & Anr. filed a Writ Petition (Criminal) before the Supreme Court of India. The petition was listed as Writ Petition(s)(Criminal) No(s). 297/2020. The petition was called for hearing on October 16, 2020. M/S Sood Resins and Polymers & Ors. are the respondents. An application seeking exemption from filing the official translation was allowed by the court. The court ordered a stay of further proceedings in the Criminal Complaints/Appeals mentioned in para 2.12 of the Writ Petition filed against the Corporate Debtors and its Directors under Section 138 of the Negotiable Instruments Act, 1881. This stay was granted in view of the moratorium order dated March 27, 2019, passed by the NCLT, New Delhi in CP (IB)-386(PB)/2018 in terms of Section 14(1)

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## Issues and analysis

### Issue 1: Whether the criminal proceedings against the corporate debtors and their directors should be stayed …

**Ratio:** Section 14(1) of the Insolvency and Bankruptcy Code, 2016 imposes a moratorium on the

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**Reasoning:** The court reasoned that the moratorium imposed by the NCLT under Section 14(1) of the IBC

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**Interpretation:** Section 14(1) is interpreted to provide a comprehensive stay on legal actions

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**Application:** The court applied the ratio of Section 14(1) to the facts of the case, where

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## Parties

- **Judges:** ROHINTON FALI…; NAVIN S…; +1 more
- **Appellants:** Naresh Kumar…
- **Respondents:** M/S Sood Resins…

## Timeline

- **2019-03-27 — Moratorium…**: NCLT, New Delhi passed a moratorium…
- **2020-10-16 — Hearing…**: The Writ Petition was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 138 — Discharge order](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-138)

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