RP Entitled to Reclaim Leased EV Fleet During CIRP: NCLT Upholds Corporate Debtor’s Assets Must Be Preserved During CIRP [Read Order]
The National Company Law Tribunal (NCLT) has held that a Resolution Professional (RP) is entitled to reclaim leased electric vehicles belonging to a Corporate Debtor during the Corporate Insolvency Resolution Process (CIRP) and also stated that preservation and recovery of assets forming part of the insolvency estate is a statutory obligation under the Insolvency and…