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The Bombay High Court had allowed a plea challenging the order passed by an additional sessions judge directing issuance of process against two former directors of a firm on a complaint filed by the Insolvency and Bankruptcy Board of India.
While dealing with an appeal filed by the Board challenging the high court verdict, a bench of Justices B R Gavai and Sandeep Mehta said the HC had “grossly erred” in quashing the complaint only on the ground that it was filed before a special court presided over by a sessions judge.