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DRAT modified its own order so that resolution professional could take over assets of debtor-co

May 25, 2019[2019] 105 taxmann.com 326 (Delhi)
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IBC : Section 18 of the Insolvency & Bankruptcy Code, 2016 entitles Interim Resolution Professional/Resolution Professional (IRP/RP) to monitor assets and take control and custody of assets of corporate debtor. Thus, where IRP/RP approached DRAT for taking over godowns/properties of Corporate Debtor, DRAT could have recalled its order so that IRP/RP could take over assets of corporate debtor in exercise of its mandate under Insolvency & Bankruptcy Code, 2016. DRAT was not powerless to modify its own order whereby two court commissioners had been appointed to take over control of assets of corporate debtor

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