The petition is likely to come up for hearing at the National Company Law Tribunal on Feb 20.
A petition has been filed before the NCLT, Chennai bench, by a Resolution Professional (petitioner) over his arbitrary removal by bankers for trying to conduct an audit of a corporate debtor (CD) to whom Rs 400 crores were given by five banks, led by the Indian Overseas Bank.
The petition has been filed by CA Venkatasivakumar and is likely to come up for hearing at the National Company Law Tribunal on February 20.
The issue in question is whether bankers having 75% majority voting can remove a Resolution Professional who is doing his work as per the Insolvency and Bankruptcy Board of…
Read the full article at: https://www.thenewsminute.com/article/are-psu-banks-trying-kill-insolvency-law-petitioner-approaches-nclt-76691
