The appeal challenges an order by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) in I.A. No.4394 of 2024 in C.P. (IB)-220(PB)/2024. The appellant had filed the application for amending part - IV of Form - 1 under Section 7 of IBC, 2016.
The Board of Directors of Indian Bank resolved on 06.11.2014 to adopt a Uniform Power of Attorney for issue to confirmed Officers/Executives.
On 24.11.2014, the Chairman and Managing Director nominated the General Manager (HRM) and Deputy General Manager (HRM) of the Appellant as the authority for issuing Power of Attorney.
On 26.7.2023, Arvind Misra and Venkatachalam, General Manager (HRM) and Deputy General Manager (HRM) respectively, executed a Power of Attorney authorizing Shri Navjeet Nirala, the Chief Manager of the bank.
The Adjudicating Authority contended that the General Manager (HRM) and Deputy General Manager (HRM) should have been specifically named, not merely nominated by their office, for executing the power of attorney.
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Order passed by the Adjudicating Authority…
Board of Directors of…
The appeal challenges an order by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) in I.A. No.4394 of 2024 in C.P. (IB)-220(PB)/2024. The appellant had filed the application for amending part - IV of Form - 1 under Section 7 of IBC, 2016.
The Board of Directors of Indian Bank resolved on 06.11.2014 to adopt a Uniform Power of Attorney for issue to confirmed Officers/Executives.
On 24.11.2014, the Chairman and Managing Director nominated the General Manager (HRM) and Deputy General Manager (HRM) of the Appellant as the authority for issuing Power of Attorney.
On 26.7.2023, Arvind Misra and Venkatachalam, General Manager (HRM) and Deputy General Manager (HRM) respectively, executed a Power of Attorney authorizing Shri Navjeet Nirala, the Chief Manager of the bank.
The Adjudicating Authority contended that the General Manager (HRM) and Deputy General Manager (HRM) should have been specifically named, not merely nominated by their office, for executing the power of attorney.
Order passed by the Adjudicating Authority…
Board of Directors of…