https://www.taxtmi.com/caselaws?id=411911 Under Section 95 of the Insolvency and Bankruptcy Code, the Adjudicating Authority's role is limited to initiating the process and appointing the Resolution Professional; it should not record a conclusive finding on default before the report under Section 99 and the subsequent consideration under Section 100. The process requires only limited notice sufficient to secure the personal guarantor's participation before the Resolution Professional, and a fresh formal notice was unnecessary where appearance had already been made before the Adjudicating Authority. The premature finding on default and the observation on notice were set aside, while the appointment of the Resolution Professional was left undisturbed and the matter remitted for fresh consideration in accordance with law. en-us Fri, 27 Aug 2021 00:00:00 +0530 Sat, 04 Sep 2021 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411911 Under Section 95 of the Insolvency and Bankruptcy Code, the Adjudicating Authority's role is limited to initiating the process and appointing the Resolution Professional; it should not record a conclusive finding on default before the report under Section 99 and the subsequent consideration under Section 100. The process requires only limited notice sufficient to secure the personal guarantor's participation before the Resolution Professional, and a fresh formal notice was unnecessary where appearance had already been made before the Adjudicating Authority. The premature finding on default and the observation on notice were set aside, while the appointment of the Resolution Professional was left undisturbed and the matter remitted for fresh consideration in accordance with law. Case-Laws Insolvency and Bankruptcy Fri, 27 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411911