STATE BANK OF INDIA Vs. METENERE LTD.

JUDGEMENT

(1.) Heard learned counsel for the parties at length.

(2.) We are prima facie satisfied that the approach adopted by the National Company Law Appellate Tribunal, New Delhi (NCLAT) is not correct that merely Resolution Professional who remained in the Service of SBI and is getting pension, was dis entitled to be Resolution Professional.

(3.) However, since Mr. Tushar Mehta, learned Solicitor General as well as Mr. Krishnan Venugopal, learned senior counsel have agreed for appointment of new Resolution Professional by NCLT, let new Resolution Professional be appointed by the NCLT forthwith within a week in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016.