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2022 (6) TMI 922 - HC - Insolvency and BankruptcySummon of petitioners - vicarious liability - offences punishable under Sections 31(1), 74(3) and 235A of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Against the decision of the NCLAT in the case of Committee of Creditors of Amtek Auto Ltd. [2019 (8) TMI 877 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI], the Insolvency and Bankruptcy Board of India filed Civil Appeal Diary No. 32731/2019 wherein, vide order dated 23rd September 2019, [2019 (9) TMI 1652 - SC ORDER] the Hon’ble Supreme Court stayed the impugned judgment and held that the order dated 23rd September 2019 will not affect the progress of the other criminal cases and they shall proceed uninfluenced by the impugned order. As regards the second issue taken up by the learned Senior Counsel for the petitioners that the petitioner Nos. 2, 3 and 4 could not have been summoned in their individual capacity by the learned Special Judge when the complaint was filed only against the company through petitioner Nos. 2, 3 and 4, prima facie, there appears to be merit as Section 74(3) of the I.B.C. does not impose a vicarious liability. List on 13th April 2022.
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