HDFC Bank Ltd. filed a Company Appeal (AT) (Insolvency) No. 1358 of 2023 challenging an order that appointed a liquidator not recommended by the Committee of Creditors (CoC). The appellant argues that the IBBI's General Circular dated 18.07.2023 directs the appointment of a liquidator other than the Resolution Professional or Interim Resolution Professional, and that Section 34(4)(b) only empowers the Board with regard to specific Resolution Professionals.
HDFC Bank Ltd. filed an appeal against an order appointing a liquidator not recommended by the CoC. The appellant argues that the appointment violates the IBBI's circular and Section 34(4)(b), which limits the Board's power to specific Resolution Professionals. The appellant sought to implead the IBBI as a respondent. The court issued notice to the IBBI and scheduled a hearing for the appeal.
Sign in to view the parties.
Learned Senior Counsel…
IBBI issued a General…
HDFC Bank Ltd. filed a Company Appeal (AT) (Insolvency) No. 1358 of 2023 challenging an order that appointed a liquidator not recommended by the Committee of Creditors (CoC). The appellant argues that the IBBI's General Circular dated 18.07.2023 directs the appointment of a liquidator other than the Resolution Professional or Interim Resolution Professional, and that Section 34(4)(b) only empowers the Board with regard to specific Resolution Professionals.
HDFC Bank Ltd. filed an appeal against an order appointing a liquidator not recommended by the CoC. The appellant argues that the appointment violates the IBBI's circular and Section 34(4)(b), which limits the Board's power to specific Resolution Professionals. The appellant sought to implead the IBBI as a respondent. The court issued notice to the IBBI and scheduled a hearing for the appeal.
Learned Senior Counsel…
IBBI issued a General…