https://www.taxtmi.com/caselaws?id=784132 Supersession of the board of a financial service provider under the Reserve Bank of India Act, with an administrator taking charge, meant the erstwhile directors were treated as having vacated office and could not participate in the CIRP or attend Committee of Creditors meetings. In the absence of any specific provision granting access, they were also not entitled to copies of resolution plans submitted by prospective resolution applicants. The principle applied distinguished the position of suspended directors in a corporate insolvency from ex-directors of a superseded financial service provider, and the entitlement recognised in Vijay Kumar Jain was held inapplicable on these facts. en-us Thu, 11 Dec 2025 00:00:00 +0530 Tue, 30 Dec 2025 09:27:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784132 Supersession of the board of a financial service provider under the Reserve Bank of India Act, with an administrator taking charge, meant the erstwhile directors were treated as having vacated office and could not participate in the CIRP or attend Committee of Creditors meetings. In the absence of any specific provision granting access, they were also not entitled to copies of resolution plans submitted by prospective resolution applicants. The principle applied distinguished the position of suspended directors in a corporate insolvency from ex-directors of a superseded financial service provider, and the entitlement recognised in Vijay Kumar Jain was held inapplicable on these facts. Case-Laws IBC Thu, 11 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784132