Case Law Details
Case Name : State Bank of India Vs. Metenere Ltd. (NCLAT)
Appeal Number : Company Appeal (AT) (Insolvency) No. 76 of 2020
Date of Judgement/Order : 22/05/2020
Related Assessment Year :
Courts :
NCLAT
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State Bank of India Vs. Metenere Ltd. (National Company Law Appellate Tribunal)
Is apprehension of bias a valid ground to substitute Insolvency Resolution Professional (IRP)?
Recently, an appellate tribunal in its judgment upheld the NCLT order which prohibits the appointment of an ex-bank employee as an Interim Resolution Professional [IRP] of a bankrupt company due to the possibility of bias. This judgment is said to have wide ramifications on the ongoing and future corporate insolvency resolution process [CIRP].
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