Rule 4 -- Negotiable Instruments Act, 1881 (26 of 1881), Section 138 -- Insolvency and Bankruptcy Code, 2016 (31 of 2016), Section 7 -- Code of Criminal Procedure, 1973 (2 of 1974), Section 482 -- Cheque bounce case – Summoning of accused – Challenge to -- Insolvency proceedings – Effect of -- Account of the Company was frozen by virtue of orders dated 03.12.2018 passed by the NCLT -- All the moveable and immoveable assets of the Company have been taken over – Held, cheque in question is dated 12.06.2017, which was dishonoured on 29.07.2017 i.e. much prior to the passing of the order by the NCLT -- Even the legal notice dated 26.08.2017 served upon the petitioner is prior to commencement of IBC proceedings – Petitioner cannot thus take ruse under NCLT order passed after the institution of impugned complaint and passing of the summoning order.

(P&H HC) Decided on: 29.09.2020