Both interesting and academic questions are being faced by the Courts since the Amendment of the Negotiable Instruments Act, 1881 and as a result of addition of Chapter XVII in the Negotiable Instruments Act relating to penalties in case of dishonour of certain cheques for insufficiency of funds in the accounts inserted by Act 66 of 1988 w.e.f. 1-4-89. Section 138 of the Amended Act relates to dishonour of certain cheques for insufficiency of funds etc. in the accounts and in case of non-compliance with the provisions and on account of dishonour of the cheques if payment is not made as per the section, provides for penal consequences. Section 536(2) of the Companies Act reads as under : In the case of a winding-up by or subject to the supervision of the Court, any disposition of the property (including actionable claims) of the company, and any transfer of shares in the company or alteration in the status of its members, made after the commencement of the win ....