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TMI Blog2020 (9) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... order dated 3rd July, 2020 formulated by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata by virtue whereof 'Committee of Creditors' was directed to replace the Appellant - Mr. Kanakabha Ray (Resolution Professional) with a new 'Insolvency Resolution Professional' within one week on the ground that the Appellant had been in gainful employment of the 'Financial Creditor'/'Union Bank of India' for 34 years and had been dealing with the accounts of the 'Corporate Debtor' which facts were unknown to the 'Corporate Debtor' previously. The impugned order is assailed on the ground that the removal of the 'Interim Resolution Professional' who had been appointed and confirmed can be carried out only with concurrence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AT) (Insolvency) No. 76 of 2020' decided on 22nd May, 2020. Paragraphs 7 and 8 which are relevant and germane to the disposal of instant appeal are reproduced herein below: "7. This Appellate Tribunal had an occasion to consider ineligibility or disqualification for appointment as 'Interim Resolution Professional' or 'Resolution Professional'. Taking note of the relevant provisions of law in "State Bank of India v. Ram Dev International Ltd. (Through Resolution Professional)− Company Appeal (AT) (Insolvency) No. 302 of 2018" decided on 16th July, 2018, this Appellate Tribunal observed that merely because a 'Resolution Professional' is empanelled as an Advocate or Company Secretary or Chartered Accountant with the 'Financial Creditor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... '. It is profitable to refer to the following observations of the Hon'ble Apex Court in "Ranjit Thakur v. Union of India and Ors.− (1987) 4 SCC 611": "17. As to the tests of the likelihood of bias what is relevant is the reasonableness of the apprehension in that regard in the mind of the party. The proper approach for the judge is not to look at his own mind and ask himself, however, honestly, "Am I Biased?"; but to look at the mind of the party before him" 8. The fact that the proposed 'Resolution Professional' Mr. Shailesh Verma had a long association of around four decades with the 'Financial Creditor' serving under it and currently drawing pension coupled with the fact that the 'Interim Resolution Professional' is supposed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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