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Showing posts from February, 2023

Delhi HC stays trial court proceedings in NI Act against a businessman

New Delhi [India], February 5 (ANI): The Delhi High Court has stayed proceedings before the trial court in section 138 Negotiable Instruments Act against a businessman in a complaint filed by TCI XPS, a division of Transport Corporation of India Ltd.   Businessman Arun Jain, erstwhile Director of Lilliput Kidswear Ltd. had prayed for the quashing of the summoning order and the complaint in the petition filed by him. The bench of Justice Swarana Kanta Sharma in an order passed on Feb 1, 2023, has issued notice to the respondent and said, “In the meanwhile, the Trial Court is requested to adjourn the matter to a date later than the date fixed by this Court.” Advocates Ayush Jindal and RK Gossain appeared for the businessman and submitted that the complaint was not maintainable since the cheque in question was presented by the complainant after the accused company was ordered to be wound up. It was also submitted that the material on record reveals that the petitioner could not have been