Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + SCH Insolvency and Bankruptcy - 2023 (10) TMI SCH This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (10) TMI 71 - SC ORDERRelated party or not - allowed to take place on the Committee of Creditors or not - Section 5(24) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- There can be no cavil to the proposition that so far as the appellant before us is concerned, on account of both the aspects urged by learned senior counsel for the appellant, the appellant cannot be treated as a related party and thus, would find a place on the Committee of Creditors. Having opined so, insofar as the other aspects are concerned, which have not been dealt with by the NCLAT, it would not be appropriate for this Court to venture into that area and other aspects, considering the nature of appeal before this Court as the NCLAT must bestow consideration on those aspects first before this Court is called upon to take a view in the matter, especially keeping in mind the limited jurisdiction of this Court vis-a-vis Section 62 of the Code limiting the appeal to a “question of law”. The impugned order set aside - matter remitted back to the NCLAT for its adjudication on the various other aspects which the appellant seeks - appeal allowed by way of remand.
|