Case Name : M/s Gimpex Private Limited vs Manoj Goel
Case Reference: (2021) 11 SCR 432
Case Number: Crl A No 1068/2021
Neutral Citation: 2021 INSC 637
Court: Supreme Court
Bench: 03
Coram: Dhananjaya Y Chandrachud (Author), Vikram Nath, BV Nagarathna
Date: 08.10.2021
NI Act contemplates compromise or settlement during pendency of complaint and even after conviction since primary purpose of NI Act - Section 138 is to ensure compensation to complainant (Para 27,28) Offence under NI Act - Section 138is quasi-criminal, though it arises out of a civil wrong, the law imposes criminal penalty in the form of imprisonment or fine. The purpose of NI Act is to provide security to creditors and instil confidence in the banking system
Refer also: P Mohanraj vs Shah Bros Ispat Pvt Ltd, (2021) 6 SCC 258 Para 53 - NI Act - Section 138proceedings are a civil sheep in a criminal wolf’s clothing
See also: NI Act - Section 139
PDF: Gimpex Private Limited vs Manoj Goel, (2021) 11 SCR 432.pdf
Web Link: URL of judgment