Negotiable Instruments Act, 1881–Secs. 138 & 147–Companies Act, 1956–Sec. 391–Sanctioning of scheme u/s. 391–Effect on the offence committed by company u/s. 138–Held, scheme simply makes the original debt payable in a manner and to the extent provided for in the scheme–Offence will not automatically be compounded as a result of sanctioning of the scheme.
