Argus Partners successfully represented the Committee of Creditors of Chinar Retails and Infrastructure Private Limited, through Omkara Asset Reconstruction Company Limited, before NCLAT, New Delhi
We are pleased to share that Argus Partners successfully represented the Committee of Creditors of Chinar Retails and Infrastructure Private Limited, through Omkara Asset Reconstruction Company Limited (“Appellants”), before the National Company Law Appellate Tribunal (“NCLAT”), New Delhi.
While deciding the issue “As between the CoC and the Adjudicating Authority, who has the authority to appoint the liquidator?”, the NCLAT held that the Adjudicating Authority (NCLT) has no independent authority to appoint a Resolution Professional (IRP/RP) or Liquidator of its own choice. It further observed that the NCLT is not empowered to supersede the decision of the CoC, except in cases involving gross misconduct, collusion, or fraud.
The team at Argus Partners advising Appellants before the NCLAT consisted of Somdutta Bhattacharyya [Partner] and Kiran Sharma [Principal Associate (Designate)].
.png)
.png)
.png)
7A, 7th Floor, Tower C, Max House,
Okhla Industrial Area, Phase 3
New Delhi – 110020
The rules of the Bar Council of India do not permit advocates to solicit work or advertise in any manner. This website has been created only for informational purposes and is not intended to constitute solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work in any manner. By clicking on 'Agree' below, you acknowledge and confirm the following:
a) there has been no solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;
b) you are desirous of obtaining further information about us on your own accord and for your use;
c) no information or material provided on this website is to be construed as a legal opinion and use of this website will not create any lawyer-client relationship;
d) while reasonable care has been taken in ensuring the accuracy of the contents of the website, Argus Partners shall not be responsible for the results of any actions taken on the basis of information provided in this website or for any error or omission in the website; and
e) in cases where the user has any legal issues, the user must seek independent legal advice.
.png)
.png)
.png)
.png)
.png)
.png)
.png)