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IBC - Highlights / Catch Notes

Home Highlights December 2023 Year 2023 This

Power of NCLT where CIRP stayed - Validity of Direction to the ...


Tribunal Missteps in Forcing Resolution Professional to Return Management Control During Insolvency Process Stay.

December 22, 2023

Case Laws     Insolvency and Bankruptcy     AT

Power of NCLT where CIRP stayed - Validity of Direction to the Resolution Professional to immediately handover the management of the Corporate Debtor to the CEO/Management of the Corporate Debtor - It is for the RP to take decision in its wisdom as to how the Corporate Debtor should be allowed to continue as a going concern without taking any steps in the CIRP - The Adjudicating Authority committed error in passing the order - AT

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