The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) has formally recorded that one of its members was approached by “one of the most revered members of the higher judiciary” seeking a favourable order in an insolvency matter. Judicial Member Justice Sharad Kumar Sharma recused himself from hearing the case on August 13 after disclosing this.
The case relates to an appeal filed in 2023 by Attluru Sreenivasulu Reddy, suspended director of KLSR Infratech Limited, against AS Met Corp Pvt Ltd and KLSR Infratech represented by its Insolvency Resolution Professional. The appeal challenges an order admitting the Hyderabad-based company into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and…