Adjudicating Authority can Proceed for Exparte as per Rule 49 of NCLT Rules when CD not Appear: NCLAT [Read Order]

The Tribunal held the corporate debtor at fault for failing to appoint an advocate in time, as required under Rule 49(1) of the NCLT Rules, 2016
NCLAT - Rule 49 of NCLT - NCLT Rules - NCLT News - NCLT Updates - taxscan

The National Company Law Appellate Tribunal (‘NCLAT’) in a recent case,held that Rule 49 of National Company Law Tribunal ( NCLT ) Rules, 2016 gives ample jurisdiction to the Adjudicating Authority to proceed for ex parte as the corporate debtor does not appear.It was found that the appearance by the corporate debtor or an authorized…

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