Bank of Baroda Vs U. N. Automobiles Pvt. Ltd (NCLT Jaipur)
NCLT Jaipur held that conduct of the present Resolution Professional in CIRP proceeding of the Corporate Debtor [M/s U. N. Automobile Private Limited] seems to be non-transparent and in clear violation of the core objectives and principles of the Code. Thus, new Resolution Professional is appointed.
Facts- The Applicant is the erstwhile/suspended director of the CD who has approached this Adjudicating Authority being aggrieved by the conduct of the Non-Applicant No.1, inter alia, whereby the Non-Applicant No.1, i.e. the IRP of the CD is conducting the CIRP in a biased and mechanical fashion; and without performing due diligence to ascertain the veracity of claims submitted by the claimants of the CD including Non-Applicant No.2. Resultantly, the Non-Applicant No. 1 has accepted/admitted the inflated claims submitted by the claimants qua the CD, including Non-Applicant No.2 which is not only unethical, highly prejudicial to the interests of the CD; but also, is contrary to the provisions of the IBC, 2016 and the rules made thereunder. The Applicant has also filed a separate application seeking rejection/verification of claims, which duly manifests the unbiased conduct of Non-Applicant No.1. In the light of abovementioned facts and circumstances, the Applicant, being the suspended/erstwhile director of the CD is constrained to file the instant application citing lack of transparency, conflict of interest, absolute bias of Non-Applicant No.1 towards the Non-Applicant No.2, inter alia, other acts undertaken by the Non-Applicant No.1, w.r.t. the CIRP of the CD.
