Failure of a One Time Settlement (OTS) cannot reset the default date and does not preclude proceedings under Section 7 of the IBC
![](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
![Failure of a One Time Settlement (OTS) cannot reset the default date and does not preclude proceedings under Section 7 of the IBC](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
![The drawer who issued the cheque is liable for interim compensation, not authorized signatories or company directors](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- Jul 27
- 2 min
The drawer who issued the cheque is liable for interim compensation, not authorized signatories or company directors
![IBBI in association with NLUO and NeSL Organizing a Two-day Conference on Finance, Economics, Banking, and Insolvency Laws](https://static.wixstatic.com/media/d515a3_cd902c231e6a48bb8c12fb9f43ad5897~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_cd902c231e6a48bb8c12fb9f43ad5897~mv2.webp)
- Jul 23
- 2 min
IBBI in association with NLUO and NeSL Organizing a Two-day Conference on Finance, Economics, Banking, and Insolvency Laws
![Supreme Court: Dishonouring cheques is now a regulatory offence, and courts should encourage the compounding of offences under the NI Act](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- Jul 22
- 4 min
Supreme Court: Dishonouring cheques is now a regulatory offence, and courts should encourage the compounding of offences under the NI Act
![Byju's Crisis Deepens: NCLT Admits BCCI Plea Over ₹158 Crore Default](https://static.wixstatic.com/media/d515a3_a4cc1dadab204f4da7594f30e701c073~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_a4cc1dadab204f4da7594f30e701c073~mv2.webp)
- Jul 17
- 2 min
Byju's Crisis Deepens: NCLT Admits BCCI Plea Over ₹158 Crore Default
![IBBI Chairperson Calls for Enhanced Creditor Recovery Strategies to Boost Economic Impact](https://static.wixstatic.com/media/d515a3_61291f541d9a4d789dd4bdc04287a34a~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_61291f541d9a4d789dd4bdc04287a34a~mv2.webp)
- Jul 16
- 2 min
IBBI Chairperson Calls for Enhanced Creditor Recovery Strategies to Boost Economic Impact
![](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
![Moratorium under the IBC cannot protect the applicant from proceedings under Section 138/141 of the Negotiable Instruments Act for his vicarious liability](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
- Jun 28
- 3 min
Moratorium under the IBC cannot protect the applicant from proceedings under Section 138/141 of the Negotiable Instruments Act for his vicarious liability
![](https://static.wixstatic.com/media/d515a3_cb1ce2dbbcee494a9bcb5c3bb1542b9c~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_cb1ce2dbbcee494a9bcb5c3bb1542b9c~mv2.webp)
![Insolvency and Bankruptcy Board of India (IBBI) Invites Applications for the Post of Whole Time Member](https://static.wixstatic.com/media/d515a3_cb1ce2dbbcee494a9bcb5c3bb1542b9c~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_cb1ce2dbbcee494a9bcb5c3bb1542b9c~mv2.webp)
- Jun 8
- 2 min
Insolvency and Bankruptcy Board of India (IBBI) Invites Applications for the Post of Whole Time Member
![](https://static.wixstatic.com/media/d515a3_7d6a0ec3440048ee9651592943157ffb~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,lg_1,q_30,blur_30,enc_auto/d515a3_7d6a0ec3440048ee9651592943157ffb~mv2.webp)
![Insolvency and Bankruptcy Code applies to personal guarantors to corporate debtors but not to partnership firms and their directors unless explicitly stated](https://static.wixstatic.com/media/d515a3_7d6a0ec3440048ee9651592943157ffb~mv2.jpg/v1/fill/w_209,h_180,fp_0.50_0.50,q_90,enc_auto/d515a3_7d6a0ec3440048ee9651592943157ffb~mv2.webp)
- Jun 3
- 2 min
Insolvency and Bankruptcy Code applies to personal guarantors to corporate debtors but not to partnership firms and their directors unless explicitly stated
![Supreme Court Rules the Existence of a Mortgage and Recoverable Loan Amounts Justify Proceedings under the SARFAESI Act](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- May 31
- 2 min
Supreme Court Rules the Existence of a Mortgage and Recoverable Loan Amounts Justify Proceedings under the SARFAESI Act