Prosecution of Former Directors Challenged Due to Lack of Evidence and Non-Cooperation under Insolvency and Bankruptcy Code, 2016.

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....Institution of prosecution against the ex-directors of the Corporate Debtor u/s of IBC, 2016 - suspended board - allegation of non-cooperation - There is also no finding that this document at Sr. No. 27 is in the possession of either of the Appellants. - The direction for initiating prosecution was uncalled for - AT....