Case Law Analysis
|Bombay High Court
Natural Justice in CIRP Withdrawal | IRP and Objecting Creditors Must Be Heard, Not Suspended Directors or Unrepresented Creditors : Bombay HC
Bombay HC rules that principles of natural justice in Corporate Insolvency Resolution Process (CIRP) withdrawal applications are satisfied by hearing the Interim Resolution Professional (IRP) and objecting financial creditors, excluding suspended directors or unrepresented creditors. The ruling clarifies the scope of audi alteram partem in IBC proceedings, impacting creditor participation rights.