Can Suspended Board of Directors prefer appeal before NCLAT under Section 22(3) of the Insolvency & Bankruptcy Code, 2016 which enjoins CoC to replace the Interim Resolution Professional(IRP) – Sunit Suri Vs. Mr. Ahsan Ahmed (RP) SDU Travels Pvt. Ltd. – NCLAT Chennai
NCLAT held that when this Tribunal posed a query to the Learned Counsel for the Appellant, as to how the Appellant / Suspended Board of Directors can prefer the instant Comp. App., before this Tribunal under Section 22(3) of the Insolvency & Bankruptcy Code, 2016 which enjoins Committee of Creditors to replace the Interim Resolution Professional, who shall file an Application before the Adjudicating Authority for the appointment of the Proposed Resolution Professional (along with the consent from the Proposed Resolution Professional) in the specified form, in terms of Section 22(3) of the Insolvency & Bankruptcy Code, 2016, the Learned Counsel for the Appellant answered the same, by pointing out that except seeking the aid of Rule 11 of the NCLAT Rules, 2016, inherent power and no other Provision under the Insolvency & Bankruptcy Code, 2016, enjoins him to prefer an Appeal / Application before the Tribunal.
