https://www.taxtmi.com/caselaws?id=434434 The Tribunal dismissed the appeals, ruling that the nominee directors' resignation was not effective, and the appellant was deemed a related party, thus excluded from the Committee of Creditors. This decision aimed to prevent conflicts of interest and uphold the integrity of the Corporate Insolvency Resolution Process, emphasizing the necessity of due diligence by the Interim Resolution Professional and the prevention of related parties influencing the CoC. en-us Mon, 20 Feb 2023 00:00:00 +0530 Thu, 23 Feb 2023 19:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434434 The Tribunal dismissed the appeals, ruling that the nominee directors' resignation was not effective, and the appellant was deemed a related party, thus excluded from the Committee of Creditors. This decision aimed to prevent conflicts of interest and uphold the integrity of the Corporate Insolvency Resolution Process, emphasizing the necessity of due diligence by the Interim Resolution Professional and the prevention of related parties influencing the CoC. Case-Laws Insolvency and Bankruptcy Mon, 20 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434434