RP Cannot Be Personally Faulted for Allowing Operational Creditor to Vote on Its Own Resolution Plan in Bona Fide Discharge of Statutory Duties: NCLAT [Read Order]
The National Company Law Appellate Tribunal (NCLAT) has held that a Resolution Professional (RP) cannot be personally faulted for permitting a sole Operational Creditor to vote on its own Resolution Plan where such action was taken in a bona fide discharge of statutory duties under the Insolvency and Bankruptcy Code (IBC). Consequently, the Appellate Tribunal…