Tag Archives: EX-Employe

19-08-2020 Disqualification of an IP due to Bias, being Ex-employee/Pensioner of applicant SBI Case SC Concluded (NCLAT) Delhi is not correct

NCLT New Delhi(PB) on 04.01.2020 in State Bank of India vs M/s. Metenere Limited [CP No. IB-639(PB)/2018]

Mr. Sailesh Verma. It is submitted that Mr. Sailesh Verma is an ex-employee of SBI; joined the services of SBI in the year 1977 and since then he had been working with SBI till his retirement in 2016. He has been in the services of SBI for a period of over 39 years. Thus there is an apprehension of bias against the appointment of the proposed IRP.

NCLAT : disqualified or ineligible to act as an ‘Interim Resolution Professional’.


Finally the Hon’ble SCI on 19.08.2020 in State Bank of India vs M/s. Metenere Ltd (Civil Appeal No. 2570 of 2020) disposed the matter, observing as under;

  • “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 disentitled to be Resolution Professional.”