Persons associated with Management of Corporate Debtor obligated to assist RP: NCLT denies Salary Claim by Ex-Managerial Personnel

Management - Corporate Debtor - assist RP - NCLT - Salary Claim - Ex-Managerial Personnel - taxscan

The National Company Law Tribunal (NCLT), Ahmedabad Bench has recently ruled that, promoters and persons associated with the management of the corporate debtor are statutorily obligated to extend all assistance to the Resolution Professional(RP). In a petition filed by the Indian Overseas Bank seeking Corporate Insolvency Resolution Process (CIRP) against AMW Autocomponent Ltd. , who…

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