https://www.taxtmi.com/caselaws?id=385819 The National Company Law Tribunal, New Delhi Bench, dismissed the application for removal of the Resolution Professional/Liquidator under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority highlighted the Directors' non-cooperation and initiated contempt proceedings against them, leading to the dismissal of subsequent applications challenging the Authority's decisions. The Court emphasized the Directors' lack of standing to file applications on behalf of others and noted the ongoing non-cooperation. The Appellant was permitted to raise issues before the Adjudicating Authority for potential penal actions under the Companies Act and the I&B Code, with the appeal being dismissed without costs. en-us Mon, 10 Jun 2019 00:00:00 +0530 Sat, 14 Sep 2019 10:27:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385819 The National Company Law Tribunal, New Delhi Bench, dismissed the application for removal of the Resolution Professional/Liquidator under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority highlighted the Directors' non-cooperation and initiated contempt proceedings against them, leading to the dismissal of subsequent applications challenging the Authority's decisions. The Court emphasized the Directors' lack of standing to file applications on behalf of others and noted the ongoing non-cooperation. The Appellant was permitted to raise issues before the Adjudicating Authority for potential penal actions under the Companies Act and the I&B Code, with the appeal being dismissed without costs. Case-Laws Insolvency and Bankruptcy Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385819