An Interlocutory Application No. 58 of 2022 was filed under Section 98 of the Insolvency and Bankruptcy Code, 2016, by the personal guarantor/applicant seeking replacement of the Resolution Professional and setting aside the report dated 19.09.2021.
Jatin Rajpal filed an application seeking replacement of the Resolution Professional and setting aside of the report dated 19.09.2021.
The application was filed under Section 98 of the Insolvency and Bankruptcy Code, 2016.
The applicant contended that the RP was biased because he was empanelled with the State Bank of India.
The applicant alleged that the RP's report was filed without proper enquiry.
The respondents argued that the RP was validly appointed and that mere empanelment does not create a conflict of interest.
The Tribunal noted that no disciplinary proceedings were pending against the RP.
The Tribunal relied on judgments including Ravi Ajit Kulkarni v. State Bank of India and Ram Dev International Ltd.
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RP submitted report…
Order delive…
An Interlocutory Application No. 58 of 2022 was filed under Section 98 of the Insolvency and Bankruptcy Code, 2016, by the personal guarantor/applicant seeking replacement of the Resolution Professional and setting aside the report dated 19.09.2021.
Jatin Rajpal filed an application seeking replacement of the Resolution Professional and setting aside of the report dated 19.09.2021.
The application was filed under Section 98 of the Insolvency and Bankruptcy Code, 2016.
The applicant contended that the RP was biased because he was empanelled with the State Bank of India.
The applicant alleged that the RP's report was filed without proper enquiry.
The respondents argued that the RP was validly appointed and that mere empanelment does not create a conflict of interest.
The Tribunal noted that no disciplinary proceedings were pending against the RP.
The Tribunal relied on judgments including Ravi Ajit Kulkarni v. State Bank of India and Ram Dev International Ltd.
RP submitted report…
Order delive…