Supersession of Board of Directors of respondent No.2 - ...

High Court rules Article 226 not applicable as RBI inspection leads to board supersession and administrator appointment.

October 16, 2021

Case Laws Insolvency and Bankruptcy HC

Supersession of Board of Directors of respondent No.2 - appointment of the administrator further mentioning that respondent No.1 intends to shortly initiate the process of resolution of respondent - inspection conducted by the RBI - inspection revealed serious deterioration in its financial position. - The present is not a fit case where for invocation of extra ordinary jurisdiction under Article 226 of the Constitution of India. - HC

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Supersession of Board of Directors of respondent No.2 - ...

High Court rules Article 226 not applicable as RBI inspection leads to board supersession and administrator appointment.

October 16, 2021

Case Laws Insolvency and Bankruptcy HC

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