The right of replacement of Resolution Professional is not provided to Operational Creditor – Giriraj Enterprises Vs. State Bank of India and Anr. – NCLT Chennai Bench

Hon’ble NCLT Chennai Bench held that on reading of section 27 of the IBC it is clear that the right of replacement of RP is not provided to the operational creditor and necessary party required for adjudication will be heard in lines of Principle of Natural justice. However we don’t find any reasons to go beyond the statute and implead Operational creditor in an application sought for replacement of RP.

The right of replacement of Resolution Professional is not provided to Operational Creditor – Giriraj Enterprises Vs. State Bank of India and Anr. – NCLT Chennai Bench Read Post »