Supreme Court tells Parsvnath Developers to Comply with Haryana RERA Orders or Face Jail  ||  Supreme Court: Article 142 Cannot Override a Concluded and Acted-Upon Settlement Between Parties  ||  SC Grants One-Time Relief, Allows Law Students to Take Exams Despite Attendance Shortage  ||  SC Grants One-Time Relief, Allows Law Students to Take Exams Despite Attendance Shortage  ||  Supreme Court: Murder Inside a Vehicle Does Not Qualify For Motor Accident Compensation  ||  Supreme Court: Section 50 NDPS Act Inapplicable to Recovery from Articles Carried by Accused  ||  J&K&L High Court: Death of Sole Accused Brings Disproportionate Assets Attachment Case to an End  ||  Calcutta High Court: Child Marriage Allegation Alone Cannot Justify Ordering a POCSO FIR  ||  Calcutta High Court: Trial Courts Can't Compel Mediation in Mutual Consent Divorce Cases  ||  Kerala High Court Orders DGP to Set Up Special Squads Across Districts for Hit-and-Run Cases    

NCLAT, Chennai: Suspended Board of Directors Do Not Have Powers to Appoint Resolution Professional - (02 Mar 2022)

INSOLVENCY

National Company Law Appellate Tribunal, Chennai has held that the suspended Board of Directors has no power under the Insolvency and Bankruptcy Code, 2016 to appoint a Resolution Professional. The power to do so has only been vested in the Committee of Creditors and then the Adjudicating Authority.

Tags : NATIONAL COMPANY LAW APPELLATE TRIBUNAL   POWERS TO APPOINT RESOLUTION PROFESSIONAL  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved