Ajay Kumar to Mohan Raj Case: Why Cheque Bounce Proceedings must become Non-Existent During CIRP – By Mr. Nakshatra Gujrati

he present article seeks to explain the implication of this ruling and whether the Hon’ble High Court’s approach was correct while interpreting the term ‘proceedings’ under section 14 of IBC. The apex court has rejected this ruling in the case of P.Mohanraj vs Ispat Bros (2021) ibclaw.in 24 SC.