Whether the Monitoring Committee of a Corporate Debtor through its Chairman has the authority under IBC to file CIRP application against other Corporate Debtor – M/s. Educomp Infrastructure & School Management Ltd. Vs. M/s. Millenium Education Foundation – NCLT New Delhi Bench Court-V
The Adjudicating Authority observed that the Applicant, in the present Application, being the Monitoring Professional for M/ s. Educomp Infrastructure & School Management Limited, is covered under the provisions of the Code, by virtue of Section 2(d) of the code which read as; “such other body incorporated under any law for the time being in force, as the Central Government may, by notification, specify in this behalf;”. Here, it can be observed that the Monitoring Committee is formed under the provisions of the Code and the Chairman therein, is also appointed in accordance with the provisions of the Code. Hence, he has proper authority to proceed to take any steps as necessary to protect the interest of the Applicant.