Case Law Analysis
|National Company Law Appellate Tribunal
Section 95 IBC | Power of Attorney Holder Competent to Initiate Insolvency Proceedings if Authorised by Board Resolution: NCLAT
NCLAT clarifies that a power of attorney holder can file an insolvency application under Section 95 IBC if authorised by a board resolution, even without explicit mention in the power of attorney. The ruling underscores the sufficiency of corporate authorisation for initiating personal insolvency proceedings against guarantors.