Suspended Director Not Entitled to Rejected Valuation Reports: NCLAT Delhi

Manish Bagrodia Director (Suspended Powers) of Winsome Yarns Limited Vs Anil Kohli (NCLAT Delhi) Summary: The appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) was filed by Manish Bagrodia, ex-director of Winsome Yarns Limited (“Corporate Debtor”), challenging the order dated 16.05.2025 of the National Company Law Tribunal (NCLT), Chandigarh Bench-I. The Adjudicating Authority had dismissed his application (I.A. No. 1935 of 2024), which sought access to the first two valuation reports prepared during the Corporate Insolvency Resolution Process (CIRP). Backgrou...