The application IA-1008/2020 was filed by the suspended board of directors against the Interim Resolution Professional (IRP). The IRP had issued an advertisement on 2020-05-24 to assign the corporate debtor's functioning on a job basis without obtaining approval from the Committee of Creditors (CoC). The advertisement also mentioned disciplinary proceedings initiated against the IRP before the IBBI, where a warning was issued to the IRP to remain conscious in the future.
The suspended board of directors filed an application against the IRP. The IRP issued an advertisement on 2020-05-24 to assign the corporate debtor's functioning on a job basis without CoC approval. The advertisement mentioned disciplinary proceedings against the IRP before the IBBI. The SBI counsel requested to postpone the CoC meeting scheduled for 2020-06-11. The court directed the IRP to hold the CoC meeting on 2020-06-15 and present the proposal for assignment of work on a job basis. The IRP was directed not to take any action based on the advertisement until the CoC meeting.
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IRP gave an advertisement to assign corporate…
Order delivered by the NCLT regarding the…
The application IA-1008/2020 was filed by the suspended board of directors against the Interim Resolution Professional (IRP). The IRP had issued an advertisement on 2020-05-24 to assign the corporate debtor's functioning on a job basis without obtaining approval from the Committee of Creditors (CoC). The advertisement also mentioned disciplinary proceedings initiated against the IRP before the IBBI, where a warning was issued to the IRP to remain conscious in the future.
The suspended board of directors filed an application against the IRP. The IRP issued an advertisement on 2020-05-24 to assign the corporate debtor's functioning on a job basis without CoC approval. The advertisement mentioned disciplinary proceedings against the IRP before the IBBI. The SBI counsel requested to postpone the CoC meeting scheduled for 2020-06-11. The court directed the IRP to hold the CoC meeting on 2020-06-15 and present the proposal for assignment of work on a job basis. The IRP was directed not to take any action based on the advertisement until the CoC meeting.
IRP gave an advertisement to assign corporate…
Order delivered by the NCLT regarding the…