The appeal was filed by Mr. Anurag Chandra, a Financial Creditor, against an order passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi. The Adjudicating Authority approved the resolution plan of Affinity Beauty Salon Pvt. Ltd. (Corporate Debtor). The appeal was specifically limited to the appointment of the ‘Resolution Professional' as ‘Liquidator'.
Mr. Anurag Chandra, a Financial Creditor, filed an appeal against the Adjudicating Authority's order approving the resolution plan of Affinity Beauty Salon Pvt. Ltd. The core issue was the appointment of the ‘Resolution Professional' as ‘Liquidator'. Mr. Chandra, as a member of the 'Committee of Creditors', had a share in the distribution mechanism. However, no fault was found with the 'Resolution Professional', and no omission or commission was attributed to him that would disqualify him from being appointed as 'Liquidator'. The Committee of Creditors did not raise any objections to the appointment.
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The Appellant assailed the impugned order…
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The appeal was filed by Mr. Anurag Chandra, a Financial Creditor, against an order passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi. The Adjudicating Authority approved the resolution plan of Affinity Beauty Salon Pvt. Ltd. (Corporate Debtor). The appeal was specifically limited to the appointment of the ‘Resolution Professional' as ‘Liquidator'.
Mr. Anurag Chandra, a Financial Creditor, filed an appeal against the Adjudicating Authority's order approving the resolution plan of Affinity Beauty Salon Pvt. Ltd. The core issue was the appointment of the ‘Resolution Professional' as ‘Liquidator'. Mr. Chandra, as a member of the 'Committee of Creditors', had a share in the distribution mechanism. However, no fault was found with the 'Resolution Professional', and no omission or commission was attributed to him that would disqualify him from being appointed as 'Liquidator'. The Committee of Creditors did not raise any objections to the appointment.
The Appellant assailed the impugned order…
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