Supreme Court: General Fraud Allegations Cannot Extend Limitation under Section 74 CGST Act  ||  SC: ‘No Coercive Steps’ Order Cannot Restrain Filing of Charge Sheet  ||  Chhattisgarh HC: Maintenance for Autistic Child May Continue Beyond 18 Until Self-Sufficient  ||  P&H HC: 45-Day Delay in Informing Detenue of Representation Right Violates Article 22(5)  ||  Rajasthan HC Bars Courts from Protecting those Responsible for Building Defects at their Own Peril  ||  Allahabad HC: Clarification Issued Before Decision Applies to Pending Tender Complaints  ||  Allahabad HC: Father’s Custody Cannot be Denied without Proof of Guardianship Unfitness  ||  Bombay High Court: Each Petitioner Must Pay Court Fee Where Causes of Action are Separate  ||  P&H High Court: Counsel’s Ignorance of Readily Available Prior Litigation Amounts to Dereliction  ||  SC: Amendments to Government Orders Must Be Construed Fairly to Prevent Hardship    

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