INDEPENDENCE OF IRP OR RP VIS A VIS CORPORATE CREDITOR- SUPREME COURT REVERSE ORDER OF NCALT – views of author find approval- however, author request honorable judges that reasoned and elaborate judgments to avoid further disputes.

INDEPENDENCE OF IRP OR RP VIS A VIS CORPORATE CREDITOR- SUPREME COURT REVERSE ORDER OF NCALT – views of author find approval- however, author request honorable judges that reasoned and elaborate judgments to avoid further disputes. https://www.taxtmi.com/article/detailed?id=9444 The document addresses whether Interim/Resolution Professionals must be independent only from the corporate debtor or also from corporate creditors, noting statutory protection focuses on debtor independence. A three-judge order in a recent insolvency matter found the tribunal's disqualification of a Resolution Professional for prior service with a creditor to be incorrect, directed appointment of a new professional, and stated the tribunal order should not be treated as precedent. The author warns that the court's brief prima facie reasoning and lack of statutory discussion may provoke further disputes and urges fully reasoned judgments. en-us Sat, 29 Aug 2020 12:09:12 +0530 Sat, 29 Aug 2020 12:09:12 +0530 TaxTMI RSS Generator INDEPENDENCE OF IRP OR RP VIS A VIS CORPORATE CREDITOR- SUPREME COURT REVERSE ORDER OF NCALT – views of author find approval- however, author request honorable judges that reasoned and elaborate judgments to avoid further disputes. https://www.taxtmi.com/article/detailed?id=9444 The document addresses whether Interim/Resolution Professionals must be independent only from the corporate debtor or also from corporate creditors, noting statutory protection focuses on debtor independence. A three-judge order in a recent insolvency matter found the tribunal's disqualification of a Resolution Professional for prior service with a creditor to be incorrect, directed appointment of a new professional, and stated the tribunal order should not be treated as precedent. The author warns that the court's brief prima facie reasoning and lack of statutory discussion may provoke further disputes and urges fully reasoned judgments. Articles Corporate Laws / IBC / SEBI Sat, 29 Aug 2020 12:09:12 +0530 https://www.taxtmi.com/article/detailed?id=9444