Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Interim disciplinary suspension of a resolution professional across assignments unrelated to the CIRP giving rise to the charge raises proportionality and audi alteram partem concerns. Board confirmation requirements for appointment or replacement do not determine whether a charge in one CIRP permits exclusion from all other assignments. Regulation 13(7), which requires communicating a disciplinary order to committees of creditors in other assignments, preserves those committees' statutory discretion to retain or replace the professional. A blanket restriction without charges or a hearing concerning those assignments was treated as disproportionate. The suspension was stayed only for other assignments, while the disciplinary merits and the scope of appellate jurisdiction remained open.
Interim disciplinary suspension of a resolution professional across assignments unrelated to the CIRP giving rise to the charge raises proportionality and audi alteram partem concerns. Board confirmation requirements for appointment or replacement do not determine whether a charge in one CIRP permits exclusion from all other assignments. Regulation 13(7), which requires communicating a disciplinary order to committees of creditors in other assignments, preserves those committees' statutory discretion to retain or replace the professional. A blanket restriction without charges or a hearing concerning those assignments was treated as disproportionate. The suspension was stayed only for other assignments, while the disciplinary merits and the scope of appellate jurisdiction remained open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
