No Legal Proceedings during Resolution Process against CD, Only IRP can file Appeal with Creditor Committee Approval: ITAT dismisses Appeal [Read Order]

Legal Proceedings against Corporate Debtors not maintainable once Resolution process Initiated, Interim Resolution Professional (IRP) Authorized for Filing Appeals with Creditor Committee Approval
No Legal Proceedings - Legal Proceedings - Resolution Process - CD - IRP - ITAT - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal, affirming that no legal proceedings can be initiated during the resolution process against the Corporate Debtor (CD), and only the Interim Resolution Professional ( IRP ) can file an appeal with approval from the Creditor Committee. Briefly stated facts are Infrastructure Leasing…

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