Proceedings u/s 61 of IBC cannot be Instituted by Official Liquidator to Challenge Directions by IBBI: NCLAT [Read Order]
The tribunal upheld the order of the High court of Delhi stating that at this stage there is no action that the appellant could use to invoke appellate jurisdiction as the investigation is fact-finding and a preliminary inquiry and no final decision has been made yet
The Chennai bench of the National Company Law Appellate Tribunal dismissed an appeal filed by the Liquidator of the Corporate Debtor M/s RLS Alloys Pvt. Ltd stating that the Liquidator cannot institute proceedings under Section 61 proceedings to challenge the directions given to the Insolvency Bankruptcy Board of India ( IBBI ). CA Ramasamy Shanmuggam,…
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