'Should be neutral': Supreme Court dismisses appeals preferred by resolution professional
Supreme Court of India
New Delhi: Dismissing an appeal filed by a Resolution Professional (RP), the Supreme Court has said that RP should maintain a neutral stand and it is for aggrieved parties, including the Committee of Creditors (CoC) to take recourse to appropriate legal remedies.
"If required and necessary, the Court can take assistance and ascertain the facts from the Resolution Professional, in case an appeal(s) is preferred by the Committee of Creditors or a third party,” said a bench of Justices Sanjiv Khanna and S.V.N. Bhatti in a recent order.
The bench observed that the Resolution Professional should not have filed the appeals before the apex court but should have maintained a neutral stand.
"It is for the aggrieved parties, including the Committee of Creditors of Regen Powertech Private Ltd (RPPL) and Regen Infrastructure and Services Private Ltd (RISPL), to take appropriate proceedings or file an appeal before this Court,” it added, refusing to entertain the appeal preferred by the RP of Regen Powertech Private Ltd.