Supreme Court Awards Rs. 6 Lakh to Man Acquitted After 6 Years, Faults UP Police Probe  ||  Supreme Court: High Courts Can Restore Power on 50% Deposit in Arbitrary Theft Assessments  ||  Supreme Court: Cooperative Society Cannot Deny RTI Records as Personal if Registrar Can Access Them  ||  SC: CoC Cannot Withdraw Approved Resolution Plan Over Improved Corporate Debtor Finances  ||  Delhi High Court: 24-Week Limit Alone Cannot Restrict Medical Termination of Pregnancy  ||  Allahabad High Court Rejects Challenge to 18% GST on Online Legal Database Services  ||  Madras High Court: FIR Registration Does Not Decide Guilt; Prior Hearing of Accused Not Required  ||  Kerala High Court Orders Speedy Prosecution Sanction Process in Sabarimala Gold Theft Case  ||  Allahabad HC: Missing RT-PCR Report Cannot Bar COVID-19 Compensation if Records Confirm Infection  ||  MP High Court Directs Indore Police to Deploy Volunteers for Reporting Noise Pollution Violations    

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