The appeal concerns an impugned order dated 2024-01-12, which the appellant argues was passed without adhering to the procedure prescribed under Section 27 of the I&B Code, 2016. The appellant, a financial creditor holding approximately 50% of voting shares, is aggrieved that IA No.134/2024 was disposed of without notice to them. The previous Resolution Professional (RP) also submitted that they had moved an application under Section 19(2) and 19(3) of the IB Code for directions to the suspended Board of Directors of the Corporate Debtor to comply with the order and hand over possession, but were unable to do so due to the conduct of the suspended director.
Noma Infrastructure Pvt Ltd, the appellant, is a financial creditor holding approximately 50% of the voting shares. The appellant is challenging an order dated 2024-01-12, alleging that it was passed without following the procedure prescribed under Section 27 of the I&B Code, 2016, regarding the replacement of a resolution professional. IA No.134/2024 was disposed of without notice to the appellant. The previous RP had filed an application under Section 19(2) and 19(3) of the IB Code seeking directions to the suspended Board of Directors of the Corporate Debtor to comply with the order and hand over possession, but was unable to do so due to the conduct of the suspended director. The allegations are rebutted by the learned counsel for R2, who submits that the
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The appeal concerns an impugned order dated 2024-01-12, which the appellant argues was passed without adhering to the procedure prescribed under Section 27 of the I&B Code, 2016. The appellant, a financial creditor holding approximately 50% of voting shares, is aggrieved that IA No.134/2024 was disposed of without notice to them. The previous Resolution Professional (RP) also submitted that they had moved an application under Section 19(2) and 19(3) of the IB Code for directions to the suspended Board of Directors of the Corporate Debtor to comply with the order and hand over possession, but were unable to do so due to the conduct of the suspended director.
Noma Infrastructure Pvt Ltd, the appellant, is a financial creditor holding approximately 50% of the voting shares. The appellant is challenging an order dated 2024-01-12, alleging that it was passed without following the procedure prescribed under Section 27 of the I&B Code, 2016, regarding the replacement of a resolution professional. IA No.134/2024 was disposed of without notice to the appellant. The previous RP had filed an application under Section 19(2) and 19(3) of the IB Code seeking directions to the suspended Board of Directors of the Corporate Debtor to comply with the order and hand over possession, but was unable to do so due to the conduct of the suspended director. The allegations are rebutted by the learned counsel for R2, who submits that the
…Date of the order being…
Hearing where the issue was raised by the…