In Swiss Ribbons Pvt Ltd v Union of India (2019), how did the Supreme Court describe the powers of a…
Swiss Ribbons (2019) held that the resolution professional has no adjudicatory powers: he is "given administrative as opposed to quasi-judicial" powers and is "really a…
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In Swiss Ribbons Pvt Ltd v Union of India (2019), how did the Supreme Court describe the powers of a resolution professional?
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Correct answer D
Swiss Ribbons (2019) held that the resolution professional has no adjudicatory powers: he is "given administrative as opposed to quasi-judicial" powers and is "really a facilitator of the resolution process". The Court contrasted this with the liquidator, whose determination of claims it described as a quasi-judicial decision. This was one reason why the absence of an appeal from the RP's decisions on claims did not make the scheme arbitrary.
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