The case involves a writ petition before the Supreme Court of India concerning insolvency proceedings initiated against M/S Rathi Steel and Power Ltd. The National Company Law Tribunal (NCLT) had already heard the concerned parties and reserved judgment on February 12, 2019. The present issue revolves around whether the insolvency proceedings were initiated pursuant to the Reserve Bank of India's circular dated February 12, 2018, or independently of it.
M/S Rathi Steel and Power Ltd. is the petitioner in a writ petition before the Supreme Court. The Reserve Bank of India (RBI) is the respondent. The National Company Law Tribunal (NCLT) had previously heard the case and reserved judgment on February 12, 2019. The central issue is whether the insolvency proceedings against M/S Rathi Steel and Power Ltd. were initiated based on the RBI's circular dated February 12, 2018, or independently. The Supreme Court directed the NCLT to reopen the proceedings to address this specific point.
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The National Company Law Tribunal (NCLT) had…
The Supreme Court heard…
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The case involves a writ petition before the Supreme Court of India concerning insolvency proceedings initiated against M/S Rathi Steel and Power Ltd. The National Company Law Tribunal (NCLT) had already heard the concerned parties and reserved judgment on February 12, 2019. The present issue revolves around whether the insolvency proceedings were initiated pursuant to the Reserve Bank of India's circular dated February 12, 2018, or independently of it.
M/S Rathi Steel and Power Ltd. is the petitioner in a writ petition before the Supreme Court. The Reserve Bank of India (RBI) is the respondent. The National Company Law Tribunal (NCLT) had previously heard the case and reserved judgment on February 12, 2019. The central issue is whether the insolvency proceedings against M/S Rathi Steel and Power Ltd. were initiated based on the RBI's circular dated February 12, 2018, or independently. The Supreme Court directed the NCLT to reopen the proceedings to address this specific point.
The National Company Law Tribunal (NCLT) had…
The Supreme Court heard…
Sign in to view related legal provisions.