NCLAT cannot Direct NCLT to Admit Petition u/7 of IBC without Evaluating Rival Contentions on Merits: SC [Read Order]

NCLAT cannot direct NCLT to Admit Petition u/7 of IBC without Evaluating Rival Contentions on Merits rules SC
NCLAT - NCLT - Supreme Court - Rival contentions - Petition under IBC - Merits evaluation - taxscan

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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