Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
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NCLAT dismissed the appeal challenging the appointment of a Resolution Professional (RP) under Section 95 and Section 97 of the Insolvency and Bankruptcy Code. The Tribunal held that personal guarantors lack standing to challenge RP appointment as a procedural step, and their rights are safeguarded by the ability to file objections against the RP's report. The proceedings from Sections 95 to 100 do not have adjudicatory effect, and the appointment process remains exclusively within the Adjudicating Authority's discretion. The appeal was deemed non-tenable, with the original RP appointment order being upheld as statutorily compliant.
NCLAT dismissed the appeal challenging the appointment of a Resolution Professional (RP) under Section 95 and Section 97 of the Insolvency and Bankruptcy Code. The Tribunal held that personal guarantors lack standing to challenge RP appointment as a procedural step, and their rights are safeguarded by the ability to file objections against the RP's report. The proceedings from Sections 95 to 100 do not have adjudicatory effect, and the appointment process remains exclusively within the Adjudicating Authority's discretion. The appeal was deemed non-tenable, with the original RP appointment order being upheld as statutorily compliant.
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