ABC Ltd., has initiated insolvency proceedings against RS Ltd., for recovery of debt
of ` 2.86 crore. ABC Ltd. intends to appoint Rahul, one of the employees of its
statutory auditors, M/s ASA & Associates, Chartered Accountants, as its resolution
professional. In the light of the statutory provisions, examine whether Rahul can be
appointed as a resolution professional.
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 08 May 2021
No, Rahul cannot be appointed as he has network with the company as employee
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