Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + SCH Insolvency and Bankruptcy - 2023 (12) TMI SCH This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (12) TMI 1176 - SC ORDERMaintainability of section 7 application - nearly two years have gone by in the interregnum - HELD THAT:- After the application under Section 7 is heard and disposed of on merits, should it become necessary to do so, the parties would be at liberty to take recourse to all appropriate proceedings in accordance with law. At that stage, should it become so necessary, this Court will enquire into both the merits and maintainability. However, we also clarify that the issue of maintainability shall stand concluded by the impugned order dated 17 November 2023 insofar as the National Company Law Tribunal “NCLT” and NCLAT is concerned. Since the application under Section 7 is pending for over two years, the NCLT is requested to take up the application at the earliest possible date and to endeavour an expeditious disposal within two months. Appeal dismissed.
|