RP cannot wear hat of `Former RP’ & pursue an avoidance application: HC

Venus Recruiters Private Limited Vs Union of India (Delhi High Court) Whether an application for avoidance of a Preferential Transaction, though filed prior to the Resolution Plan being approved, can be heard & adjudicated by the NCLT, at the instance of the RP, after the approval of the Resolution Plan? The jurisdiction of the NCLT to hear applications under Section 43 after the approval of the Resolution Plan, is thus under challenge.  If an avoidance application for preferential transactions is  permitted to be adjudicated beyond the period after the Resolution Plan is  approved, in ...