RBL Bank Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against MBL Infrastructure Ltd. An application was filed by the Resolution Professional (RP) seeking directions to convene a meeting of the Committee of Creditors (CoC) for the purpose of appointing M/s. SARC and Associates as the statutory auditors of the corporate debtor. Alternatively, the RP sought directions from the Adjudicating Authority to dispense with the CoC's approval for the auditor's appointment. The RP stated that the application was necessary due to the non-existence of the CoC and failure to obtain prior approval for appointing a new auditor, as required under Section 28(1)(m) of the Insolvency and Bankruptcy Code, 2016. The CIRP had already expired, and the Resolution Plan's
…RBL Bank Ltd initiated CIRP against MBL Infrastructure Ltd. The Resolution Professional (RP) filed an application (CA(IB) No. 168/KB/2018) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to convene a meeting of the Committee of Creditors (CoC) to approve the appointment of M/s. SARC and Associates as statutory auditors. Alternatively, the RP sought dispensation from requiring CoC approval. The RP argued that the CoC was non-existent and prior approval couldn't be obtained, as required by Section 28(1)(m) of the IBC, 2016. The CIRP period had expired, and the Resolution Plan's approval was pending due to an appeal before the NCLAT (Company Appeal (AT) (Insolvency) No. 330 of 2017). The NCLAT had directed the Adjudicating Authority to
…Sign in to view the parties.
An appeal was preferred before the Hon'ble…
Annual General Meeting…
RBL Bank Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against MBL Infrastructure Ltd. An application was filed by the Resolution Professional (RP) seeking directions to convene a meeting of the Committee of Creditors (CoC) for the purpose of appointing M/s. SARC and Associates as the statutory auditors of the corporate debtor. Alternatively, the RP sought directions from the Adjudicating Authority to dispense with the CoC's approval for the auditor's appointment. The RP stated that the application was necessary due to the non-existence of the CoC and failure to obtain prior approval for appointing a new auditor, as required under Section 28(1)(m) of the Insolvency and Bankruptcy Code, 2016. The CIRP had already expired, and the Resolution Plan's
…RBL Bank Ltd initiated CIRP against MBL Infrastructure Ltd. The Resolution Professional (RP) filed an application (CA(IB) No. 168/KB/2018) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to convene a meeting of the Committee of Creditors (CoC) to approve the appointment of M/s. SARC and Associates as statutory auditors. Alternatively, the RP sought dispensation from requiring CoC approval. The RP argued that the CoC was non-existent and prior approval couldn't be obtained, as required by Section 28(1)(m) of the IBC, 2016. The CIRP period had expired, and the Resolution Plan's approval was pending due to an appeal before the NCLAT (Company Appeal (AT) (Insolvency) No. 330 of 2017). The NCLAT had directed the Adjudicating Authority to
…An appeal was preferred before the Hon'ble…
Annual General Meeting…