While setting aside the NCLT order, the NCLAT bench directed an inquiry against the Resolution Professional.
NEW DELHI: Setting aside a liquidation order of the National Company Law Tribunal (NCLT), which was based on the information provided by the Resolution Professional (RP), the principal bench of National Company Law Appellate Tribunal (NCLAT) has asked an inquiry to be conducted against the RP, registration of an FIR in case a cognizable offence is discovered to have been committed by him and also directed the NCLT to consider changing the RP.
The Resolution Professional (RP) in Indian laws is the person who is responsible to coordinate the insolvency process. The Insolvency and Bankruptcy Board of India (IBBI), which is the regu…
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