Decision Taken By New Resolution Professional Cannot Be Objected By Erstwhile Resolution Professional: NCLAT Delhi
The National Company Law Appellate Tribunal, Delhi Bench, comprising Shri Justice Ashok Bhushan (Chairperson) Shri Barun Mitra and Shri Arun Baroka (Technical Members), in Partha Sarathy Sarkar vs Union of India & Ors. has held that the decision taken by New Resolution Professional cannot be objected by the Erstwhile Resolution Professional after replacement who is now proceeding...
The National Company Law Appellate Tribunal, Delhi Bench, comprising Shri Justice Ashok Bhushan (Chairperson) Shri Barun Mitra and Shri Arun Baroka (Technical Members), in Partha Sarathy Sarkar vs Union of India & Ors. has held that the decision taken by New Resolution Professional cannot be objected by the Erstwhile Resolution Professional after replacement who is now proceeding with the CIRP
Background Facts
The application was filed by Partha Sarathy Sarkar (“Erstwhile Resolution Professional”) against the officials of the UTI for summoning the attendance and production of documents. The appellant was replaced by New Resolution Professional. It was submitted by the New RP that he does not want to further prosecute the application. Due to this, the application was disposed as infructuous.
It was challenged by the Appellant. It was argued that the application was required to be heard on merits and decision taken.
NCLAT Verdict
It was observed by the tribunal that “When the Appellant- the Erstwhile Resolution Professional was replaced with New Resolution Professional, who is now proceeding with the CIRP, the decision taken by him cannot be objected by the Erstwhile Resolution Professional, who is Appellant herein”.
It was held that no interference can be made in the application that has already been disposed as infructuous.
With the aforesaid observation, the appeal was dismissed.
Case:
Partha Sarathy Sarkar vs Union of India & Ors.
Case No. ;Company Appeal (AT) (Insolvency) No.576 of 2024
Order Dated; 06.05.2024
Counsels for the Appellant ;Mr. Partha Sarkar, Appellant in person
Counsels for the Respondent ;Mr. D. Verma, Ms. Neha Sharma, Advocates for R1&2
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