The NCLAT, Chennai in a Bench consisting of Justice M. Venugopal, Judicial Member and Kanthi Narahari, Technical Member in the case of Anil Kumar Ojha v. Chandramouli Ramasubramaniam Resolution Professional of SLO Industrial Ltd. & Anr. held that the suspended Board of Directors has no power under the IBC to appoint a Resolution Professional. The power to do so has only been vested...
