NCLAT, Chennai: Suspended Board of Directors Do Not Have Powers to Appoint Resolution Professional - 02.03.2022

National Company Law Appellate Tribunal, Chennai has held that the suspended Board of Directors has no power under the Insolvency and Bankruptcy Code, 2016 to appoint a Resolution Professional. The power to do so has only been vested in the Committee of Creditors and then the Adjudicating Authority.

Tags : National Company Law Appellate Tribunal Powers to Appoint Resolution Professional

Share :