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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Not Mentioned, Not Mentioned
Renuka Devi Rangaswamy, Resolution Professional of Regen Powertech Private Limited (RPPL) – Appellant
Versus
State Bank of India, Stressed Asset Management Branch (SAMB) – Respondent
| Table of Content |
|---|
| 1. referral to ibbi for action against a resolution professional. (Para 1 , 2) |
| 2. arguments regarding the nature of the referral and its implications. (Para 3 , 4) |
| 3. clarification on the appealability of orders related to disciplinary actions. (Para 5 , 6 , 9 , 12 , 13 , 15) |
| 4. non-conclusivity of findings regarding the resolution professional. (Para 14) |
| 5. outcome of the appeal. (Para 16 , 17) |
O R D E R
(Hybrid Mode)
09.12.2024:
A very interesting issue, which will be dealt with by us, in the instant Company appeal which emanates from the challenge given to the Impugned Order, which has been rendered by the Ld. Adjudicating Authority. While exercising its powers under Section 60 (5) of the I & B Code, to be read with Rule 11 of the NCLT Rules, being the Impugned Order dated 14.10.2024, as rendered in IA (IBC)/2329/2023, in CP. (IBA)/1099/CHE/2019. Precisely, the Appellant is aggrieved against, the directions which have been issued by the Ld. Adjudicating Authority, particularly, that as contained in para 4.15 of the Impugned Order, which is extracted hereunder: -
“4.15 We find that the appointed RP Ms. Renuka Devi has not followed and complied the order of Hon'ble NCLAT an
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