NCLT to Decide S.7(1) Compliance Before Admission When Dispute in Number of Allottees: NCLAT [Read Order]

The NCLAT directed the NCLT to decide compliance with section 7(1) of IBC when the number of allottees is disputed

By Yogitha S. Yogesh - On February 8, 2024 10:00 pm - 2 mins read

NCLT - NCLAT - Allottees dispute - NCLAT directed NCLT - IBC - TAXSCAN

The principal bench of the National Company Law Appellate Tribunal ( NCLAT ) has directed the National Company Law Tribunal ( NCLT ) to decide compliance with Section 7(1) of the Insolvency Bankruptcy Code, 2016 ( IBC ) before admission when there is a dispute in a number of allottees. Parikshit Madanmohan Sharma, the appellant…

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