Liquidator has to defend the Corporate Debtor once he has taken the charge and if the prosecution is launched against the Company as well as against the Managing Director of the Corporate Debtor in his personal capacity, even after the liquidation proceedings have been started the Managing Director has to face the trial in his personal capacity & ultimately if the offence is proved he will be punished – Mr. Savan Godiawala Vs. Mr. G. Venkatesh Babu – NCLAT

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