2020 (3) TMI 666

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....l, Ms. Devna Arora, Ms. Apeksha Dhanvijay, Ms. Nikita, Mr. Arvind Thapliyal, Mr. Varad Chaudhary, Mr Manik Ahluwalia and Ms. Saujanya, Advocates. Respondents Through: Mr. Jasmeet Singh, CGSC with Mr. Devank Maheshwari, Advocates for R-1 to R-3. O R D E R VIBHU BAKHRU, J 1. The petitioner has filed the present petition impugning an order dated 16.08.2019 in CC No. 770/2019 captioned 'Se....

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....unal (NCLT). The said petition was admitted on 08.01.2018. Thereafter, Tata Steel Limited had submitted a Resolution Plan with respect to the petitioner (then known as 'Bhushan Energy Limited'), which was approved by the Committee of Creditors and the NCLT. Pursuant to the same, 99.9% of the petitioner's equity capital was acquired by Tata Steel BSL Limited. 3. In terms of the Resolution Plan, ....

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....e date the resolution plan has been approved by the Adjudicating Authority under section 31, if the resolution plan results in the change in the management or control of the corporate debtor to a person who was not - (a) a promoter or in the management or control of the corporate debtor or a related party of such a person; or (b) a person with regard to whom the relevant investig....

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....s in any manner in-charge of, or responsible to the corporate debtor for the conduct of its business or associated with the corporate debtor in any manner and who was directly or indirectly involved in the commission of such offence as per the report submitted or complaint filed by the investigating authority, shall continue to be liable to be prosecuted and punished for such an offence committed ....