The present batch of appeals arose from impugned judgments and orders of the National Company Law Appellate Tribunal (NCLAT), Chennai bench, dated 18.08.2022 and 13.03.2023. The NCLAT declined to interfere with the National Company Law Tribunal (NCLT) decisions, which refused to adjudicate applications by appellant-liquidators challenging provisional attachment orders under the Prohibition of Benami Property Transactions Act, 1988 ('Benami Act'). The NCLT and NCLAT concurrently held that the NCLT lacks jurisdiction to entertain such challenges, as the remedy lies exclusively before the competent forum constituted under the Benami Act. The Supreme Court accepted these findings, holding that orders passed under the Benami Act cannot be questioned before authorities under
…The present batch of appeals arises out of judgments and orders dated 18.08.2022 and 13.03.2023 passed by the NCLAT, Chennai bench.
The NCLAT declined to interfere with the NCLT's decision and refused to adjudicate appellant-liquidators' applications challenging provisional attachment orders under the Benami Act.
NCLT and NCLAT concurrently held that NCLT lacks jurisdiction to entertain such challenges, and the remedy lies exclusively before the competent forum under the Benami Act.
Investigation under the Benami Act revealed an illegal sale, in the nature of a benami transaction.
…Sign in to view the parties.
Asset purchases made during this period…
Section 67…
The present batch of appeals arose from impugned judgments and orders of the National Company Law Appellate Tribunal (NCLAT), Chennai bench, dated 18.08.2022 and 13.03.2023. The NCLAT declined to interfere with the National Company Law Tribunal (NCLT) decisions, which refused to adjudicate applications by appellant-liquidators challenging provisional attachment orders under the Prohibition of Benami Property Transactions Act, 1988 ('Benami Act'). The NCLT and NCLAT concurrently held that the NCLT lacks jurisdiction to entertain such challenges, as the remedy lies exclusively before the competent forum constituted under the Benami Act. The Supreme Court accepted these findings, holding that orders passed under the Benami Act cannot be questioned before authorities under
…The present batch of appeals arises out of judgments and orders dated 18.08.2022 and 13.03.2023 passed by the NCLAT, Chennai bench.
The NCLAT declined to interfere with the NCLT's decision and refused to adjudicate appellant-liquidators' applications challenging provisional attachment orders under the Benami Act.
NCLT and NCLAT concurrently held that NCLT lacks jurisdiction to entertain such challenges, and the remedy lies exclusively before the competent forum under the Benami Act.
Investigation under the Benami Act revealed an illegal sale, in the nature of a benami transaction.
…Asset purchases made during this period…
Section 67…