RLS Alloys Pvt. Ltd.

Can Appellate proceedings under Section 61 of the IBC be invoked by the Liquidator to challenge the directions issued by the NCLT to the IBBI – CA Ramasamy Shanmuggam, Liquidator of RLS Alloys Pvt. Ltd. Vs. Insolvency and Bankruptcy Board of India – NCLAT Chennai

The appellate proceedings under Section 61 of I & B Code cannot be resorted to by the Liquidator, for the purposes of the challenging direction issued to the IBBI to enquire into the conduct of the appellant regards his functioning as a liquidator, because that will be absolutely an in-house proceeding of the registering body of the liquidator to justify as to whether at all, the based on the set of allegations, if proved, he is required to continue as a Liquidator or not. In fact, at this stage, there is nothing apparently adverse against the Appellant, which could call for invocation of an Appellate Jurisdiction particularly when it is only an enquiry and upon which the decision on the same is yet to be taken.

Can Appellate proceedings under Section 61 of the IBC be invoked by the Liquidator to challenge the directions issued by the NCLT to the IBBI – CA Ramasamy Shanmuggam, Liquidator of RLS Alloys Pvt. Ltd. Vs. Insolvency and Bankruptcy Board of India – NCLAT Chennai Read Post »

Scroll to Top