9911796707
TMI Blog2024 (12) TMI 1216X X X X Extracts X X X X X X X X Extracts X X X X ..... that the impugned order may be set aside and the parties be remanded to the competent authority to consider it afresh in the light of the guidelines dated 17.10.2024. The said course commends to us. We accordingly set aside the impugned order and remand the matter to the competent authority to decide afresh in the light of the current guidelines. Petition is disposed of in the aforesaid terms. - HON'BLE THE ACTING CHIEF JUSTICE VIBHU BAKHRU AND HON'BLE MR. JUSTICE TUSHAR RAO GEDELA For the Petitioner Through: Mr. Tanmay Nagar, Mr. Surinder Sinha Ms. Shamli Verma, Advocates. For the Respondents Through: Ms Saroj Bidawat, SPC for UOI. Mr Ruchir Bhatia, SSC, Mr Anant Mann, JSC and Mr Abhishek Anand, Advocate. VIBHU BAKHRU, ACJ. (ORAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase. In the meanwhile, the proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) commenced in respect of respondent no. 5 before the National Company Law Tribunal (NCLT). On 03.02.2019, the learned ACMM (Special Court) framed the charges under Section 276B read with Section 278B and 278E of the Act against the petitioner and respondent no. 5. However, thereafter the proceedings in respect of the respondent no. 5 were stayed pursuant to the moratorium under the IBC. 6. The petitioner filed an application for compounding of the offences, however the said application was rejected by the impugned order. 7. A plain reading of the impugned order indicates that the same was rejected as the main accused (respondent no. 5 M/s Adel Landmar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... compound the offences of the main accused as well as all the co-accused, vide an order u/s 279(2) of the Act. 11.3. For the purpose of depositing compounding charges, co-accused under Section 278B or 278C of the Act may deposit the charges under his PAN for the relevant financial year of the offence for which compounding is sought. 11.4 In case liability of a company for an offence committed prior to the commencement of the corporate insolvency resolution process ceases due to the provisions of section 32A of the Insolvency Bankruptcy Code (IBC), it is clarified that prosecution proceedings against the co-accused can still continue. In such a case, the compounding application and payment of compounding charges can be made by the co-accused ..... X X X X Extracts X X X X X X X X Extracts X X X X
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