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TMI Blog2018 (7) TMI 1961X X X X Extracts X X X X X X X X Extracts X X X X ..... ding requirement of minimum tangible net worth for one or other category of Resolution Applicants and other criteria are matter which can be dealt with by expert committee like Committee of Creditors, we hold that the Adjudicating Authority has no jurisdiction to sit in appeal over the decision of expert bodies relating to eligibility criteria till it is not shown that the same is perverse or agai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, the Appellant Resolution Professional also followed the provisions of Section 25(2)(h) read with regulation 36A of The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. At that stage, M/s M. K. Shah Exports Ltd. filed an Interlocutory Application No. 24/2018 in CP(IB)/20/GB/2017 for direction to the Resolution Professional and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th April, 2018 referred to advertisement published on 11.04.2018 and observed that the Resolution Professional has left avenues for modification of the terms and conditions. 3. Learned counsel appearing on behalf of the Resolution Professional submitted that the Committee of Creditor had already considered the matter and minimum tangible net worth was noticed and prescribed. The same was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing themselves from the contest as Resolution Applicant. 6. In view of aforesaid stand taken by the counsel for the Respondent, as we are of the opinion that the question of eligibility criteria regrading requirement of minimum tangible net worth for one or other category of Resolution Applicants and other criteria are matter which can be dealt with by expert committee like Committee of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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