2020 (10) TMI 1230 - SC - Insolvency and Bankruptcy

Removal of appellant form CoC - appellants submits that relying on the judgment of the National Company Law Appellate Tribunal NCLAT in SH. SUSHIL ANSAL VERSUS ASHOK TRIPATHI, SAURABH TRIPATHI, MR. AMARPAL RESOLUTION PROFESSIONAL, M/S. ANSAL PROPERTIES AND INFRASTRUCTURE LTD. 2020 (8) TMI 396 - NATIONAL COMPANY LAW APPEALLATE TRIBUNAL, NEW DELHI , the appellants have been removed from the Committee of Creditors - HELD THAT - Issue notice, including to the newly added respondent, returnable in four weeks.

Summary

The Supreme Court granted permission to file the appeal and allowed the application for impleadment. The appellants were removed from the Committee of Creditors based on a judgment of the National Company Law Appellate Tribunal. The issue of whether the appellants fulfill the norms to be part of the Committee of Creditors needs to be resolved. Notice was issued to the newly added respondent, returnable in four weeks.