In the opinion of the Resolution Professional, participation of both the promoter directors of SCL Ltd as member of the suspended Board of Directors is not mandatory in the CoC under the IBC, 2016. Whether the contention
CS Professional · Insolvency - Law and Practice · PYQS · December 2023
In the opinion of the Resolution Professional, participation of both the promoter directors of SCL Ltd as member of the suspended Board of Directors is not mandatory in the CoC under the IBC, 2016. Whether the contention of the Resolution Professional is correct vis-a-vis the judgement of the Honourable Supreme Court as was held in the matter of Mr. Vijay Kumar Jain (Civil Appeal No. 8430 of 2018). Explain briefly.
Topics: Corporate Insolvency Resolution Process (CIRP)
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