NCLAT cannot direct NCLT to Admit Petition u/7 of IBC without Evaluating Rival Contentions on Merits rules SC
In a recent decision the Supreme Court of India ruled that the National Company Law Appellate Tribunal (NCLAT) cannot direct the National Company Law Tribunal (NCLT) to admit petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) without evaluating the rival contentions on merits. The appeal under Section 62 of the Insolvency…
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