This is an appeal against the order dated 09.05.2022 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Principal Bench, which allowed I.A. No.2073 of 2022 filed by the Resolution Professional. The application was for the replacement of the then Resolution Professional Mr. Umesh Garg and to appoint Mr. Ashish Singh as the new Resolution Professional. The Committee of Creditors (CoC) had passed a resolution on 18.04.2022 with 80.42% vote for removing Mr. Umesh Garg and replacing him with Mr. Ashish Singh.
The Committee of Creditors (CoC) passed a resolution on 18.04.2022 with 80.42% vote to remove the existing Resolution Professional, Mr. Umesh Garg, and replace him with Mr. Ashish Singh. The Adjudicating Authority allowed the application for this replacement. The Appellant, a CoC member holding a minority voting share of 20%, filed an appeal challenging the appointment of Mr. Ashish Singh, claiming he is ineligible because he is a related party. The appeal was filed against the order dated 09.05.2022. The basis of the appeal is the appellant's claim that Ashish Singh is a related party and therefore ineligible to be appointed as Resolution Professional.
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The Committee of Creditors (CoC) passed a…
The Adjudicating Authority (National Company…
This is an appeal against the order dated 09.05.2022 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Principal Bench, which allowed I.A. No.2073 of 2022 filed by the Resolution Professional. The application was for the replacement of the then Resolution Professional Mr. Umesh Garg and to appoint Mr. Ashish Singh as the new Resolution Professional. The Committee of Creditors (CoC) had passed a resolution on 18.04.2022 with 80.42% vote for removing Mr. Umesh Garg and replacing him with Mr. Ashish Singh.
The Committee of Creditors (CoC) passed a resolution on 18.04.2022 with 80.42% vote to remove the existing Resolution Professional, Mr. Umesh Garg, and replace him with Mr. Ashish Singh. The Adjudicating Authority allowed the application for this replacement. The Appellant, a CoC member holding a minority voting share of 20%, filed an appeal challenging the appointment of Mr. Ashish Singh, claiming he is ineligible because he is a related party. The appeal was filed against the order dated 09.05.2022. The basis of the appeal is the appellant's claim that Ashish Singh is a related party and therefore ineligible to be appointed as Resolution Professional.
The Committee of Creditors (CoC) passed a…
The Adjudicating Authority (National Company…