https://www.taxtmi.com/caselaws?id=781983 NCLAT set aside the impugned order of the Adjudicating Authority and allowed the appeal filed by the suspended board's representative. It held that members of the suspended board of the corporate debtor have a statutory right under the Code and CIRP Regulations to participate in CoC meetings and receive resolution plans in advance. By asking the authorized representative to leave the 20th CoC meeting for lack of prior authorization/confidentiality undertaking, despite his earlier participation, the RP and CoC acted contrary to the principles laid down by SC in Vijay Kumar Jain. The manner of the 20th meeting, where two PRAs were declared ineligible and only one plan was put to vote, vitiated its decisions, rendering the Adjudicating Authority's contrary conclusions unsustainable. en-us Mon, 10 Nov 2025 00:00:00 +0530 Mon, 24 Nov 2025 08:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781983 NCLAT set aside the impugned order of the Adjudicating Authority and allowed the appeal filed by the suspended board's representative. It held that members of the suspended board of the corporate debtor have a statutory right under the Code and CIRP Regulations to participate in CoC meetings and receive resolution plans in advance. By asking the authorized representative to leave the 20th CoC meeting for lack of prior authorization/confidentiality undertaking, despite his earlier participation, the RP and CoC acted contrary to the principles laid down by SC in Vijay Kumar Jain. The manner of the 20th meeting, where two PRAs were declared ineligible and only one plan was put to vote, vitiated its decisions, rendering the Adjudicating Authority's contrary conclusions unsustainable. Case-Laws IBC Mon, 10 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781983