https://www.taxtmi.com/caselaws?id=788388 On approval of a resolution plan under corporate insolvency resolution process and replacement of management, liability for dishonour of cheques issued before the takeover could not be fastened on the company under the new management. The approved resolution plan had to be given full effect, so the company could not be treated as responsible for acts committed before the change in control. Proceedings could, however, continue against the erstwhile directors-in-charge and cheque-signatories who were in charge and responsible at the relevant time. The company's later impleadment was therefore set aside to the extent it exposed the new management. en-us Thu, 05 Feb 2026 00:00:00 +0530 Sat, 21 Mar 2026 08:29:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788388 On approval of a resolution plan under corporate insolvency resolution process and replacement of management, liability for dishonour of cheques issued before the takeover could not be fastened on the company under the new management. The approved resolution plan had to be given full effect, so the company could not be treated as responsible for acts committed before the change in control. Proceedings could, however, continue against the erstwhile directors-in-charge and cheque-signatories who were in charge and responsible at the relevant time. The company's later impleadment was therefore set aside to the extent it exposed the new management. Case-Laws Indian Laws Thu, 05 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788388