IMPORTANT POINT
Section 32A of the IB Code, 2016 provides immunity to corporate debtors from prosecution for prior offences upon approval of a resolution plan, ensuring a clean slate for new management.

ORDER :

1. All the present three revisions are filed by Diamond Power Infrastructure Limited as petitioner, through one Manishkumar Janakrai Pathak, Senior Manager (Legal), challenging three different orders passed on the same date i.e. 10/04/2023.

1.1. Criminal Revision No. 689 of 2023 is with a prayer to set aside the order passed by the learned Principal District and Sessions Judge and Special Judge [PMLA] Ahmedabad (Rural) at Mirzapur, Ahmedabad and discharge/quash the proceedings against the petitioner in PMLA Case No. 5 of 2021.

1.2. Criminal Revision Application No. 690 of 2023 challenges order passed by learned Principal District and Sessions Judge and Special Judge [PMLA] Ahmedabad (Rural) at Mirzapur, Ahmedabad with a prayer to set aside the order and discharge/quash the proceeding against the petitioner in ACB Case No. 3 of 2020.

1.3. Criminal Revision Application No. 692 of 2023 challenges the order passed by the learned Principal District and Sessions Judge and Special Judge [PMLA] Ahmedabad (Rural) at Mirzapur, Ahmedabad with a prayer to set aside the order and discharge/quash proceedings against the petitioner in PMLA Case No. 21 of 2018.

2. An FIR was registered on 26/03/2018 by CBI bearing registration no. 029018170006 against the revisionist which is Diamond Power Infrastructure Limited (for short “DPIL”) and its Director under Section 420, 467, 471 read with Section 120B of the Indian Penal Code and Section 13 of the Prevention of Corruption Act. On the basis of that FIR, the Enforcement Director registered case against DPIL bearing case no. ECIR/AMZO/03/2018.

2.1. The facts notice that the Deputy Director of ED issued order No. 2/2018 dated 24/04/2018, directing provisional attachment of thirty properties under Section 5(1) of the Prevention of Money Laundering Act, 2002 (PMLA), out of which four properties belonged to DPIL. The charge sheet came to be filed on 13/07/2018 for the offences against the DPIL registered as ACB Case No. 3 of 2020.

2.2. In the meantime, proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for short “IB Code, 2016”) before National Company Law Tribunal (NCLT) was admitting DPIL in corporate Insolvency Resolution process by an order dated 24/08/2018. Moratorium under Section 14 of the IB Code was in effect and Interim Resolution Professional was appointed.

2.3. The confirmation order dated 01/10/2018 under Section 8 of the PMLA was passed confirming the provisional attachment order No. 02 of 2018 dated 24/04/2018.

2.4. Upon completion of investigation by the ED in connection to ECIR/AMZO/03/2018, PMLA Case No. 21 of 2018 was filed on 26/12/2018.

2.5. Resolution Professional of DPIL on behalf of the lenders appealed before the Appellate Tribunal against the order dated 01/10/2018. The Appellate Tribunal under PMLA was pleased to set aside the confirmation order on 18/06/2019.

3. Learned Senior Advocate Mr. Manish Bhatt submitted that aggrieved by the order dated 18/06/2019 of the Hon’ble Appellate Tribunal under PMLA, the Enforcement Director filed an appeal before the Hon’ble Gujarat High Court, wherein considering prima facie case, the provisional attachment order dated 24/04/2018 along with confirmation order dated 01/10/2018 were resurrected and order dated 18/09/2011 was stayed.

4. Mr. Bhatt, learned Senior Advocate submitted that on completion of investigation by the Enforcement Director in connection with the ECIR/AMZO/03/2018, a supplementary complaint being PMLA Case No. 5 of 2021 was filed after the Case No. 21 of 2018 was registered.

5. Referring to further facts of the case, learned Senior Advocate Mr. Bhatt submitted that the Resolution Professional of DPIL preferred a Special Leave Petition (Civil) No. 12468 of 2021 before the Hon’ble Supreme Court of India challenging the order of stay against the DPIL. Meanwhile, the Resolution Plan of the Successful Resolution Applicant i.e. Consortium of M/s. GSEC Ltd. and Mr. Rakesh Shah was approved by the committee of Cre