Case Law Analysis
|National Company Law Appellate Tribunal
Adjudicating Authority May Direct Suspended Directors to Assist EV Asset Recovery | Sec 60(5) IBC : NCLAT
The NCLAT held that, under Section 60(5) of the IBC, the adjudicating authority can issue personal directions to suspended directors of a debtor to locate and recover leased electric vehicles. This expands the tools available to resolution professionals during a CIRP.