Is apprehension of bias a valid ground to substitute IRP

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].

Facts

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