https://www.taxtmi.com/caselaws?id=402333 The National Company Law Appellate Tribunal allowed the appeal, setting aside the order adjourning the matter for the Interim Resolution Professional to file an affidavit regarding the Committee of Creditors' decision to replace the IRP with a Resolution Professional under Section 22 of the Insolvency and Bankruptcy Code. The Tribunal emphasized the commercial wisdom of the Committee of Creditors in appointing an RP, stating such decisions are not subject to judicial review. The Adjudicating Authority was directed to proceed with the Resolution Process for the Corporate Debtor with the appointed RP, emphasizing the importance of respecting CoC's decisions and avoiding delays in insolvency proceedings. en-us Mon, 21 Dec 2020 00:00:00 +0530 Fri, 02 Jul 2021 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402333 The National Company Law Appellate Tribunal allowed the appeal, setting aside the order adjourning the matter for the Interim Resolution Professional to file an affidavit regarding the Committee of Creditors' decision to replace the IRP with a Resolution Professional under Section 22 of the Insolvency and Bankruptcy Code. The Tribunal emphasized the commercial wisdom of the Committee of Creditors in appointing an RP, stating such decisions are not subject to judicial review. The Adjudicating Authority was directed to proceed with the Resolution Process for the Corporate Debtor with the appointed RP, emphasizing the importance of respecting CoC's decisions and avoiding delays in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Mon, 21 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402333