https://www.taxtmi.com/caselaws?id=393522 The petition to quash the order taking cognizance of offenses under various acts, including the Companies Act and Indian Penal Code, was successful. The petitioner, undergoing Corporate Insolvency Resolution Process, had a resolution plan approved, resulting in new unrelated management taking over. Section 32A of the Insolvency and Bankruptcy Code mandates discharge from proceedings upon approval of the resolution plan. As the resolution plan was approved, the petitioner was entitled to discharge, and the impugned order and summons were set aside, with the complaint against the petitioner quashed. Former promoters or officers responsible for offenses related to the petitioner company remain subject to prosecution. en-us Fri, 13 Mar 2020 00:00:00 +0530 Wed, 18 Mar 2020 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393522 The petition to quash the order taking cognizance of offenses under various acts, including the Companies Act and Indian Penal Code, was successful. The petitioner, undergoing Corporate Insolvency Resolution Process, had a resolution plan approved, resulting in new unrelated management taking over. Section 32A of the Insolvency and Bankruptcy Code mandates discharge from proceedings upon approval of the resolution plan. As the resolution plan was approved, the petitioner was entitled to discharge, and the impugned order and summons were set aside, with the complaint against the petitioner quashed. Former promoters or officers responsible for offenses related to the petitioner company remain subject to prosecution. Case-Laws Companies Law Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393522