- (1.) Ld. Counsel for the financial creditor and one of shareholder of the corporate debtor is present. Ld. Counsel for one of the shareholder of the corporate debtor has filed C.A. (IB) No. 536/KB/2017 alleging certain irregularities against the conduct of the Resolution Professional. In this case petition has been admitted u/s. 7 of the Insolvency and Bankruptcy Code, 2016 and Resolution Professional has been appointed.
(2.) Any shareholders, who are aggrieved by any of the act of Resolution Professional, can challenge the order but he could wait for the outcome of the resolution process.
(3.) However, copy of the application may be handed over to the Resolution Professional and Resolution Professional is directed to pass appropriate order on the application itself.;