The NCLAT, Principal Bench, New Delhi, on 2 September 2025 dismissed an appeal filed by the Appellant against the NCLT Chandigarh Bench order of 12 December 2024, which had granted ex-post facto approval to the Liquidator of Respondent’s company to file criminal complaints against the ex-management. The Appellant argued that the Adjudicating Authority had not given any reasons for granting such approval and that the complaints, filed in September 2022, were delayed despite the Liquidator having knowledge of the alleged misappropriation of ₹12 crore VAT refund in December 2021. The Respondent countered that paragraph 11(v) of the impugned order itself contained the reasons, as the NCLT in an earlier order dated 28 April 2022 had already authorised the Liquidator to pursue all civil and criminal proceedings on behalf of the Corporate Debtor. It was only during the Liquidator’s communications with the VAT department that it came to light that the ex-management, despite having ceased to be directors, had allegedly impersonated themselves as continuing directors and diverted a ₹12 crore VAT refund due to the Corporate Debtor, upon which the criminal complaints were promptly filed on 12 and 13 September 2022.
The Appellate Tribunal held that the facts recorded in paragraph 11(v) were sufficient reasons for the Adjudicating Authority to grant ex-post facto approval and that the complaints had been filed without delay once the fraud was discovered. Observing that the NCLT had earlier permitted the Liquidator to take all consequential proceedings, civil as well as criminal, the NCLAT upheld the order of the Adjudicating Authority and dismissed the appeal.
Appearances:
For Appellant : Advs- Ms. Ishita Jain, Mr. Mudassir
For Respondent : Advs – Mr. Abhinav Mishra, Mr. Priyanshu Singh, Ms. Jagriti Dosi, Ms. Archisha Singh, Mr. Hardik Dimania, Mr. KratineyGoel, Ms. Damani Juneja.
