Adjudicating Authority Can’t Solely Rely on Resolution Professional’s Report: NCLAT Delhi

Rajani Ajay Gupta Vs Indian Bank (NCLAT Delhi) NCLAT Delhi held that adjudicating authority, not solely relying on the resolution professional’s report, needs to conduct an independent assessment under section 100 of the Insolvency and Bankruptcy Code, 2016. Facts- These appeals by personal guarantors of the corporate debtor M/s. Metrix Healthcare Private Ltd. have been filed challenging the identical order passed by the adjudicating authority dated 03.10.2024, admitting Section 95 application filed by the Indian Bank. Aggrieved by the order impugned, these appeals have been filed by all the...