Resolution Professional Becomes Functus Officio After Approval of Plan under IBC: NCLT [Read Order]
The NCLT concluded that the resolution professional had become functus officio after the approval of resolution plan therefore the present application could not be filed
The Mumbai bench of the National Company Law Tribunal (NCLT) observed that Resolution Professional (RP) is not empowered to file an application after the approval of resolution plan and becomes Functus Officio. The Tribunal further held that Insolvency and Bankruptcy Board of India (IBBI) should investigate into the conduct of both the RP and respondent…
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
