Parinam advised and represented a builder/ member of committee of creditors in proceedings before the National Company Law Tribunal. In these proceedings, the conduct of the resolution professional was in question and the fact that the resolution professional was a related party with one of the members of committee of creditors was brought to the attention of the national company law tribunal. Eventually, an order directing removal of the largest financial creditor from the COC was passed and the reconstituted COC was to consider substitution of the resolution professional with directions to the IBBI to also investigate.
Simultaneous proceedings before the IBBI were also initiated against the Resolution Professional.
