SC: Revisional Jurisdiction Cannot Correct Factual Errors Despite Alleged Concealment  ||  Supreme Court: Wrong Statement in Pleadings is Not Always a False Statement, Perjury Case Quashed  ||  SC: Under JJ Act, Murder Falls Within Heinous Offences; S. 302 IPC Prescribes Minimum Life Sentence  ||  Supreme Court: Cognisance of FERA Complaint is Invalid Without Prior Notice to the Accused  ||  Supreme Court: Terror Cases Cannot Curtail Constitutional Safeguards and the Right to Fair Trial  ||  Supreme Court: Terror Cases Cannot Curtail Constitutional Safeguards and the Right to Fair Trial  ||  SC Upheld Husband's Conviction For Murdering His Wife over an Extramarital Affair  ||  J&K&L High Court: Mere Admission of Issuing Cheque is Not a Plea of Guilt under S.138 NI Act  ||  Calcutta HC: Aadhaar Card Prima Facie Establishes Occupation; Demolition Without Notice is Unlawful  ||  Gauhati High Court: Wildlife Law Doesn't Bar Trade in Unprotected Ornamental Fish Species    

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