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Arbitrary action of lender under IBC deserved to be set aside as it was not in accordance with law

December 4, 2018[2018] 100 298 (NCLT- Chennai )

IBC: Where applicant-lenders filed application under section 33 for removal of Resolution Professional on last date of CIRP, decision taken by lenders for removing Resolution Professional at expiry of CIRP was not in accordance with law and same being illegal and arbitrary action of lenders deserved to be set aside

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