The Supreme Court of India heard an appeal against an order of the National Company Law Appellate Tribunal (NCLAT) which had affirmed the order of the adjudicating authority admitting an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IB Code'). The appeal was filed in response to the NCLAT's decision.
An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IB Code') was admitted by the adjudicating authority. The National Company Law Appellate Tribunal (NCLAT) affirmed this order. The appellant appealed to the Supreme Court. The first respondent's statement was considered. The court noted Section 12A of the IB Code, which governs the withdrawal of applications admitted under Section 7. The Supreme Court agreed with the NCLAT's view and found no error in the impugned order.
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The first respondent's statement was recorded…
The Supreme Court…
The Supreme Court of India heard an appeal against an order of the National Company Law Appellate Tribunal (NCLAT) which had affirmed the order of the adjudicating authority admitting an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IB Code'). The appeal was filed in response to the NCLAT's decision.
An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IB Code') was admitted by the adjudicating authority. The National Company Law Appellate Tribunal (NCLAT) affirmed this order. The appellant appealed to the Supreme Court. The first respondent's statement was considered. The court noted Section 12A of the IB Code, which governs the withdrawal of applications admitted under Section 7. The Supreme Court agreed with the NCLAT's view and found no error in the impugned order.
The first respondent's statement was recorded…
The Supreme Court…