The case involves an appeal filed by Anand Varma, an advocate, against remarks made against him in an order dated 08.04.2022 by the Adjudicating Authority (National Company Law Tribunal), Guwahati Bench in I.A (IBC)/43/2021 in C.P. (IB)/09/GB/2019. The appellant had appeared as an advocate on behalf of Respondent No. 2, the Resolution Professional, in the corporate insolvency resolution process (CIRP) of National Plywood Industries Ltd. The Adjudicating Authority made observations regarding a potential conflict of interest due to the appellant also filing a Section 7 application on behalf of Damayanti Tea Industries, a unit of CCIPL, while representing the Resolution Professional. Respondent No. 1 filed an I.A alleging inter alia conflict of interest and collusion
…On 08.04.2022, the Adjudicating Authority (National Company Law Tribunal), Guwahati Bench, passed an order in I.A (IBC)/43/2021 in C.P. (IB)/09/GB/2019, which contained remarks against Anand Varma, an advocate. Anand Varma had appeared as an advocate on behalf of the Resolution Professional (Respondent No. 2) in the CIRP of National Plywood Industries Ltd. The CIRP was initiated based on an application filed by Financial Creditor- ‘Stressed Assets Stabilization Fund (SASF)’under Section 7. The Adjudicating Authority observed that Anand Varma had also filed a Section 7 application on behalf of 'Damayanti Tea Industries', a unit of CCIPL, while representing the Resolution Professional, leading to concerns about a potential conflict of interest. Respondent No. 1 filed an
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Corporate Insolvency Resolution Process…
The Resolution Professional published Form-G…
The case involves an appeal filed by Anand Varma, an advocate, against remarks made against him in an order dated 08.04.2022 by the Adjudicating Authority (National Company Law Tribunal), Guwahati Bench in I.A (IBC)/43/2021 in C.P. (IB)/09/GB/2019. The appellant had appeared as an advocate on behalf of Respondent No. 2, the Resolution Professional, in the corporate insolvency resolution process (CIRP) of National Plywood Industries Ltd. The Adjudicating Authority made observations regarding a potential conflict of interest due to the appellant also filing a Section 7 application on behalf of Damayanti Tea Industries, a unit of CCIPL, while representing the Resolution Professional. Respondent No. 1 filed an I.A alleging inter alia conflict of interest and collusion
…On 08.04.2022, the Adjudicating Authority (National Company Law Tribunal), Guwahati Bench, passed an order in I.A (IBC)/43/2021 in C.P. (IB)/09/GB/2019, which contained remarks against Anand Varma, an advocate. Anand Varma had appeared as an advocate on behalf of the Resolution Professional (Respondent No. 2) in the CIRP of National Plywood Industries Ltd. The CIRP was initiated based on an application filed by Financial Creditor- ‘Stressed Assets Stabilization Fund (SASF)’under Section 7. The Adjudicating Authority observed that Anand Varma had also filed a Section 7 application on behalf of 'Damayanti Tea Industries', a unit of CCIPL, while representing the Resolution Professional, leading to concerns about a potential conflict of interest. Respondent No. 1 filed an
…Corporate Insolvency Resolution Process…
The Resolution Professional published Form-G…