Delhi HC Permits RP to Convene CoC Meeting Pending NCLT Proceedings, Directs to Make Decision Subject to Tribunal Decision

The Delhi High Court has permitted a Resolution Professional (RP) to convene a Committee of Creditors (CoC) meeting while NCLT proceedings are pending. The court, however, directed that the decision made in the CoC meeting would be "subject to the tribunal's decision." This ruling is a pragmatic approach to ensure that the corporate insolvency process does not come to a standstill due to pending legal challenges. It allows the resolution process to move forward while respecting the NCLT's ultimate authority.