Mumbai: Dunar Foods Ltd, an accused in the 2016 NSEL scam case involving alleged cheating and siphoning of funds, has been discharged from criminal proceedings. The court’s decision was based on Section 32A of the Insolvency and Bankruptcy Code (IBC), which grants immunity to corporate debtors once a resolution plan is approved and management changes hands. In a recent order, special judge V P Desai referred to citations and said it was crystal clear that once the resolution plan forwarded by Resolution Professional is accepted by the NCLT, immunity cannot be denied to the corporate debtor. “The provision of section 32A is not to shield the wrongdoers. The extinguishment of the criminal liability of the corporate debtor is apparently…
