NCLAT: CoC has right to appoint liquidator

ONLY THE COMMITTEE of Creditors (COC) has the author- ity to appoint a liquidator for a debt-ridden company undergo- ing insolvency procedure, and not the NCLT, in cases where a Resolution Professional has not submitted a written consent, the appellate tribunal NCLAT has said.

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Passing a common order in two identical matters, where the National Company Law Tribunal (NCLT) had itself appointed liquidators of two insolvency-