The Bombay High Court has ruled that a company
and its directors can be prosecuted for issuing a
cheque which gets dishonored by a bank even
if the company is facing winding up proceedings
under the Companies Act 1956. It is not necessary
to get the assent of the company judge to
prosecute the accused persons under Section 138
of the Negotiable Instruments Act which deals
with bounced cheques as a criminal offence.
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