https://www.taxtmi.com/caselaws?id=414834 Section 32A of the Insolvency and Bankruptcy Code is discussed as conferring immunity on a corporate debtor once a resolution plan is approved under Section 31 and implementation brings a genuine change in management and control. The text states that, where the corporate debtor is no longer under the control of the erstwhile management, the provision gives the successful resolution applicant a clean break from prior liabilities, including prosecution for antecedent offences. It also notes that pending appeals against plan approval do not make a Section 32A application premature if no interim stay has been granted, because the approved plan continues to operate until stayed. en-us Tue, 16 Nov 2021 00:00:00 +0530 Thu, 18 Nov 2021 07:19:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414834 Section 32A of the Insolvency and Bankruptcy Code is discussed as conferring immunity on a corporate debtor once a resolution plan is approved under Section 31 and implementation brings a genuine change in management and control. The text states that, where the corporate debtor is no longer under the control of the erstwhile management, the provision gives the successful resolution applicant a clean break from prior liabilities, including prosecution for antecedent offences. It also notes that pending appeals against plan approval do not make a Section 32A application premature if no interim stay has been granted, because the approved plan continues to operate until stayed. Case-Laws Insolvency and Bankruptcy Tue, 16 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414834