Habeas corpus challenge to arrest safeguards remains maintainable, but substantial compliance with reasons-to-believe requirement defeats the petition...
Insolvency and BankruptcyJanuary 11, 2023Case LawsAT
Jurisdiction of NCLT to Remove Resolution Professional - the Appellant was proceeding contrary to the statutory provisions as contained in the IBC and also delaying the smooth conclusion of CIRP - there is no defect in the impugned order warranting interference by this Tribunal. On the contrary the conduct of the appellant/RP which was observed by the Adjudicating Authority and reflected so in the impugned order is sufficient enough to direct IBBI to conduct an inquiry regarding the role played by the RP in this matter. - AT
Jurisdiction of NCLT to Remove Resolution Professional - the Appellant was proceeding contrary to the statutory provisions as contained in the IBC and also delaying the smooth conclusion of CIRP - there is no defect in the impugned order warranting interference by this Tribunal. On the contrary the conduct of the appellant/RP which was observed by the Adjudicating Authority and reflected so in the impugned order is sufficient enough to direct IBBI to conduct an inquiry regarding the role played by the RP in this matter. - AT
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