Resolution Plan Approval by NCLT Sparks Debate on Halting Prosecution of Insolvent Companies.

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Full Text of the Document

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....Continuation of prosecution proceedings after approval of resolution plan against the company - there is no dispute that a resolution plan has been approved by the Adjudicating Authority (NCLT) and in the circumstances, there is much merit in the contention that the petitioner cannot be prosecuted and is liable to be discharged. - HC....