https://www.taxtmi.com/caselaws?id=304298 A suspended managing director of the corporate debtor lacked locus to challenge the SARFAESI sale of the vessel before NCLT during CIRP, because the application was not filed by the interim resolution professional or resolution professional. The dispute over the SARFAESI measures had already been taken to the competent DRT and was pending there. In these circumstances, the suspended director had no authority to represent the corporate debtor or maintain parallel proceedings before NCLT, and the application was dismissed for want of locus standi. en-us Fri, 26 Nov 2021 00:00:00 +0530 Sun, 18 Sep 2022 17:36:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304298 A suspended managing director of the corporate debtor lacked locus to challenge the SARFAESI sale of the vessel before NCLT during CIRP, because the application was not filed by the interim resolution professional or resolution professional. The dispute over the SARFAESI measures had already been taken to the competent DRT and was pending there. In these circumstances, the suspended director had no authority to represent the corporate debtor or maintain parallel proceedings before NCLT, and the application was dismissed for want of locus standi. Case-Laws Insolvency and Bankruptcy Fri, 26 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304298