In Absence of Fraud or Misrepresentation, Order Admitting CIRP cannot be Recalled: NCLT rules in favour of Canara Bank [Read Order]

Since NCLT had the power to issue such an order under Section 7 of the law, the decision to admit CTPPL into CIRP was not without jurisdiction

By Yogitha S. Yogesh - On March 20, 2025 3:18 pm - 3 mins read

Absence of Fraud - Misrepresentation - Admitting CIRP - CIRP Cannot be Recalled - NCLT - NCLT rules - NCLT rules in favour of Canara Bank - Canara Bank - taxscan

The National Company Law Tribunal, Mumbai bench partially granted Canara Bank’s interim plea concerning the CIRP of Carnival Techno Park Pt. Ltd (CTPPL). Although Canara Bank’s request to recall CIRP admission was denied by the Tribunal, the forensic audit was permitted to look into the validity of the RCFL claim and its classification as secured…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here