Insolvency resolution process requires appeal verification by the Insolvency Resolution Professional, or the appeal fails on maintainability.

Once corporate insolvency resolution process was admitted, an appeal in the name of the company had to be prosecuted by the Insolvency Resolution Professional. The memorandum remained verified by an erstwhile director and was not substituted by the IRP, so it did not comply with section 140(c) of the Income-tax Act, 1961. The appeal was therefore not maintainable and was dismissed.

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Issues: Whether the appeal filed in the name of the assessee-company, after initiation of corporate insolvency proceedings and without substitution by the Insolvency Resolution Professional, was maintainable.

Analysis: Once the corporate insolvency resolution process had been admitted, the appeal could be prosecuted only by the Insolvency Resolution Professional. The memorandum of appeal continued to be verified by an erstwhile director and had not been replaced by the IRP. In such circumstances, the appeal was not in accordance with the requirement of section 140(c) of the Income-tax Act, 1961, and was liable to fail on maintainability.

Conclusion: The appeal was held to be not maintainable and was dismissed.

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