The Supreme Court has ruled that resolution professionals (RPs) do not have the authority to file appeals against bankruptcy court decisions since they are considered "neutral" individuals appointed to assist the tribunals. Only parties directly affected, such as the Committee of Creditors (CoC), can file appeals. Legal experts believe this decision will help speed up insolvency resolutions. The court's ruling came in response to an appeal filed by the RP of Regen Powertech, who challenged decisions made by the National Company Law Appellate Tribunal (NCLAT).
