No Hearing Mandated for RP Appointment under IBC: NCLT

In re Siri Kishan Aggarwal (NCLT Delhi) In a recent ruling by the National Company Law Tribunal (NCLT) Delhi in the case of Siri Kishan Aggarwal, an interesting aspect regarding the appointment of a Resolution Professional (RP) under Section 97(5) of the Insolvency and Bankruptcy Code (IBC) has been highlighted. The case sheds light on whether a hearing is mandated by the Adjudicating Authority during the appointment process. The petitioner, Mr. Siri Kishan Aggarwal, filed a petition under Section 94(1) of the IBC seeking the initiation of the Insolvency Resolution Process (IR Process) against...