Resolution Professional cannot decide legality or illegality of Resolution Applicant's status as willful defaulter: NCLAT

The Resolution Professional can only rely on the present status of the Resolution Applicant.
NCLAT, Bombay High Court
NCLAT, Bombay High Court

The National Company Law Appellate Tribunal (NCLAT) has held that a Resolution Professional (RP) under the Insolvency & Bankruptcy Code cannot go into the issue of legality or illegality of a resolution applicant's status as a willful defaulter when the same is already pending before the High Court. (HS Bedi vs Oriental Bank of Commerce)

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