This is a writ petition filed in the High Court of Delhi challenging an order passed by the National Company Law Tribunal (NCLT). The NCLT order held that the procedure for calling for 'Expression of Interest' is ultra-vires of the Insolvency and Bankruptcy Code, 2016. The petition questions whether the NCLT could strike down the provisions of Section 36A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
The National Company Law Tribunal (NCLT) passed an order stating that the procedure for calling for 'Expression of Interest' is ultra-vires of the Insolvency and Bankruptcy Code, 2016. This order was challenged in the High Court of Delhi. The specific NCLT order in question was dated 05.09.2018 and pertained to the matter of State Bank of India vs. Su Kam Power Systems Ltd. The court noted that Resolution Professionals had already issued 'Expression of Interest' in some cases. The key fact is the NCLT's decision regarding the 'Expression of Interest' procedure and the subsequent challenge to that decision in the High Court.
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NCLT passed an order stating that the procedure…
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This is a writ petition filed in the High Court of Delhi challenging an order passed by the National Company Law Tribunal (NCLT). The NCLT order held that the procedure for calling for 'Expression of Interest' is ultra-vires of the Insolvency and Bankruptcy Code, 2016. The petition questions whether the NCLT could strike down the provisions of Section 36A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
The National Company Law Tribunal (NCLT) passed an order stating that the procedure for calling for 'Expression of Interest' is ultra-vires of the Insolvency and Bankruptcy Code, 2016. This order was challenged in the High Court of Delhi. The specific NCLT order in question was dated 05.09.2018 and pertained to the matter of State Bank of India vs. Su Kam Power Systems Ltd. The court noted that Resolution Professionals had already issued 'Expression of Interest' in some cases. The key fact is the NCLT's decision regarding the 'Expression of Interest' procedure and the subsequent challenge to that decision in the High Court.
NCLT passed an order stating that the procedure…
The High Court issued notice to the respondents…
Sign in to view related legal provisions.