Background Section 138 of the Negotiable Instruments Act, 1881 (‘NI Act’) deals with the offence relating to the dishonour of a cheque for insufficiency of funds or if it exceeds the amount arranged to be paid from that account. Section 138 of the NI Act…
The Insolvency and Bankruptcy Code, 2016 (IBC) has consolidated laws that govern corporate restructuring and insolvency for individuals, partnerships, and sole proprietors. The primary purpose was to expedite the resolution of corporate insolvency. Both financial and operational obligations were defined in the IBC and a…