Appointment of RP - we are not accepting the fear expressed by ...

Appellant's claim of RP bias dismissed; Section 99 ensures impartiality with Adjudicating Authority holding final decision power.

September 2, 2021

Case Laws Insolvency and Bankruptcy AT

Appointment of RP - we are not accepting the fear expressed by the Appellant that how could the Resolution Professional appointed by the Creditor itself if appointed by the Adjudicating Authority deal with the application filed by himself for the Creditor and give Report. What the Resolution Professional under Section 99 would be doing was requiring the Debtor to furnish proof of repayment as per Section 99(2) and after doing the necessary spade work Resolution Professional has to recommend acceptance or rejection of the application with reasons. The decision making whether to admit or reject the application would be only by the Adjudicating Authority. - AT

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Appointment of RP - we are not accepting the fear expressed by ...

Appellant's claim of RP bias dismissed; Section 99 ensures impartiality with Adjudicating Authority holding final decision power.

September 2, 2021

Case Laws Insolvency and Bankruptcy AT

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