NCLAT definition
Examples of NCLAT in a sentence
The Supreme Court also upheld the previous award by the National Company Law Appellate Tribunal (NCLAT) and National Company Law Tribunal (NCLT).
The NCLAT had held that Section 138, being a criminal law provision, cannot 9 All.
She also submitted that the present case of IL&FS is also unique since in normal course, only against the defaulter company action is initiated, however, in the present case IL &FS along with its 348 subsidiaries has been joined to the proceedings before NCLAT.
This well-established statute, which has an appellate body called the National Company Law Appellate Tribunal (NCLAT), deals with matters involving registered firms in bad financial shape with a disputed value of more than Rs. 1 lakh.
It is further submitted that at relevant time, the Petitioner herein was subsidiary of IL&FS, one of the principal company of IL&FS Group and the Petitioner along with other group companies of IL&FS had been subject matter of the proceeding before NCLAT.
Feeling aggrieved by such order, an appeal was preferred by the Appellant Bank before NCLAT.
Ltd.’ (Corporate Debtor) which is generating electricity and supplying it and there is no default in supplying electricity and during the ‘Corporate Insolvency G Resolution Process’...” However, like the NCLT, the NCLAT did not give any specific finding on whether it or the NCLT can exercise its jurisdiction under section 60(5)(c) over a dispute arising out of the termination of the PPA.
Referring to Order dated 15.10.2016, of NCLAT, it is submitted that it is not correct to say that the Respondent GUVNL bunched the group companies of IL&FS but during aforesaid proceeding before NCLAT, the same were bunched.
Referring to the Order dated 15.08.2018, she also submitted that the Hon’ble NCLAT has also granted moratorium therein which restricts any proceedings against IL&FS and its 348 Group Companies.
Aggrieved by the CCI decision appellant filed an appeal before NCLAT which was dismissed.