A Company’s Assets cannot be Targeted once it has gone through the Insolvency Process
The Bombay High Court’s 1 March ruling in Shiv Charan & Ors. v. Adjudicating Authority & Ors. is an important addition to the canon that a person acquiring an insolvent company through a resolution process under the Indian Insolvency & Bankruptcy Code, 2016 (IBC) starts with a clean slate.