TaxTMI 
TaxTMI 
2020 (1) TMI 1533
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....given and liquidator was directed to send private notice to the Home Secretary, State of Maharashtra and Deputy Collector and Competent Authority for NSEL, Office of Collector and District Magistrate Bombay City. Pursuant to which the Counsel for the Liquidator has filed an affidavit of service with the proof of sending notice to the respondents as was directed on 13th of December, 2019, the proof of delivery of notice is also attached with the affidavit filed. In spite of the service of notice, there is no representation on behalf of the respondents, service against them is held sufficient, therefore, Home Secretary, State of Maharashtra, the Collector, District Magistrate Bombay City are proceeded Ex-Parte. 2. The Counsel for the Liqui....
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....n the basis of material in its possession, reason to believe that he had abetted or conspired for the commission of the offence, and has submitted or filed a report or a complaint to the relevant statutory authority or Court: Provided that if a prosecution had been instituted during the corporate insolvency resolution process against such corporate debtor, it shall stand discharged from the date of approval of the resolution plan subject to requirements of this sub-section having fulfilled: Provided further that every person who was a "designated partner" as defined in clause (j) of section 2 of the Limited Liability Partnership Act, 2008 or an "officer who is in default", as defined in clause (60) of section 2 of the Comp....
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....xplanation:- For the purposes of this sub-section, it is hereby clarified that,- (i) an action against the property of the corporate debtor in relation to an offence shall include the attachment, seizure, retention or confiscation of such property under such law as may be applicable to the corporate debtor; (ii) nothing in this sub-section shall be construed to bar an action against the property of any person, other than the corporate debtor or a person who has acquired such property through corporate insolvency resolution process or liquidation process under this Code and fulfils the requirements specified in this section, against whom such an action may be taken under such law as may be applicable. (3) Subject t....
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....ssed on 2nd of August, 2019 in WP No. 1181 of 2018, which was challenged before the Hon'ble Supreme Court, and is pending. 4. The Counsel for the Petitioner further clarified that in WP No. 1181 of 2018, the notifications dated 4th, 7th, 11th and 19th of April, 2018 and the notifications dated 15th of May, 2018, 19th of September, 2018 and 21st of May, 2019 were under challenge. Therefore, the present notification dated 31st March, 2017 and the attachment order dated 22nd of October, 2018 are not the subject matter in the said petition and the CD viz., M/s. Namdhari Food International Pvt. Ltd., was neither a party before the Hon'ble High Court nor the Hon'ble Apex Court. 5. The Ld. Counsel appearing on behalf of the Liqui....
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.... the Code]. The Investors/Creditors cannot raise any objection as they were at liberty to file their claims with the liquidator within the stipulated time under Section 35 (j) of the IBC, 2016. The submissions of the liquidator are plausible, which are accepted. 6. The registration of CR No. 89/13 under the Provisions of the IPC and the MPID Act, is in relation to the alleged offences committed by the erstwhile management of the CD and other entities. But the Company (CD) cannot be prosecuted under the said provisions. Hence, the satisfaction of the claims of the creditors of the CD is possible only under the provisions of IBC. Therefore, in public interest, the Order dated 22nd October, 2018 read with notification dated 31st of March, 2....