#Section 32A

Section 32A IBC grants statutory immunity to a successor corporate debtor after an approved resolution plan, as held by the Orissa HC. This bars prosecution, requires trial court to vacate cognizance, and shields acquirers from legacy liability.

The NCLAT ruled that Section 32A immunity applies to purchasers acquiring a corporate debtor as a going concern during liquidation, extending clean slate protection to the period between the liquidation order and the sale certificate. This shields buyers from pre-existing liabilities and aligns liquidation sales with resolution plan safeguards.