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of The HC held that NCLT approval of a resolution plan constitutes a judicial determination extinguishing all liabilities of the corporate debtor not preserved in the plan, including contingent criminal liabilities, and that Section 32A IBC confers immunity on a successful resolution applicant who satisfies statutory preconditions. The court found that permitting a prosecuting agency to relitigate such extinguished liabilities undermines the finality of insolvency proceedings and may amount to double jeopardy. The petition was disposed with directions that the successful resolution applicant shall appear before the trial court, produce the NCLT order and the Section 32A immunity grant, and the trial court shall consider those submissions and pass a reasoned order on whether the applicant is to be arrayed as an accused.
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