CoC Decision on Resolution Professional Replacement Upheld by NCLAT Delhi

Partha Sarathy Sarkar Vs Specified Undertaking of Unit Trust of India Ltd. (NCLAT Delhi) Introduction: The National Company Law Appellate Tribunal (NCLAT) in Delhi recently rendered a decision in the matter of Partha Sarathy Sarkar vs. Specified Undertaking of Unit Trust of India Ltd. The case revolves around the replacement of the Resolution Professional and the challenges raised against this decision by Partha Sarathy Sarkar. The Adjudicating Authority had approved the replacement, and this decision was brought to the NCLAT for review. Detailed Analysis: The crux of the dispute lies in the C...