Scope of duty of RP - Seeking acceptance of the claims which had ...

Resolution Professional's Authority Affirmed: NCLAT Supports Request for Additional Proof in Insolvency Claims Verification.

February 15, 2024

Case Laws Insolvency and Bankruptcy AT

Scope of duty of RP - Seeking acceptance of the claims which had been rejected by the Resolution Professional - Proof of services provided and debts - The NCLAT held that the RP did not exceed his powers by seeking additional proof to substantiate the claims. The RP's role includes verifying claims to ensure their accuracy for the CIRP process, and the request for additional proof was within his administrative powers, not constituting adjudication. - The Tribunal found that the RP acted within his mandate by seeking further evidence to ensure the credibility of the insolvency process.

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Scope of duty of RP - Seeking acceptance of the claims which had ...

Resolution Professional's Authority Affirmed: NCLAT Supports Request for Additional Proof in Insolvency Claims Verification.

February 15, 2024

Case Laws Insolvency and Bankruptcy AT

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