https://www.taxtmi.com/caselaws?id=758848 NCLAT upheld the rejection of operational creditor's claims while directing IBBI to investigate the resolution professional's conduct. The tribunal found the resolution professional acted improperly by rejecting a substantial operational creditor's claim of Rs. 1.94 crores while accepting a nominal unsecured financial creditor's claim of Rs. 1.05 lakh, effectively manipulating committee composition. The court noted suspicious circumstances including backdated loan agreements and questioned the resolution professional's neutrality. NCLAT imposed Rs. 10 lakh costs on the appellant and directed compliance reporting to the adjudicating authority, emphasizing the need for proper investigation into professional misconduct. en-us Tue, 17 Sep 2024 00:00:00 +0530 Thu, 19 Sep 2024 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758848 NCLAT upheld the rejection of operational creditor's claims while directing IBBI to investigate the resolution professional's conduct. The tribunal found the resolution professional acted improperly by rejecting a substantial operational creditor's claim of Rs. 1.94 crores while accepting a nominal unsecured financial creditor's claim of Rs. 1.05 lakh, effectively manipulating committee composition. The court noted suspicious circumstances including backdated loan agreements and questioned the resolution professional's neutrality. NCLAT imposed Rs. 10 lakh costs on the appellant and directed compliance reporting to the adjudicating authority, emphasizing the need for proper investigation into professional misconduct. Case-Laws IBC Tue, 17 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758848