State Cannot Blacklist a Company After Approval of Resolution Plan: Tripura HC rules New Management Cannot Be Punished for Old Misdeeds

The Tripura High Court has ruled that a "state cannot blacklist a company after the approval of a resolution plan," as "new management cannot be punished for old misdeeds." The court's decision provides a significant victory for the company. The ruling clarifies that a company cannot be penalized for the misdeeds of its previous management.