Mr. Naresh Salecha (Technical Member) Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT affirms Committee of Creditors’ authority to opt for liquidation under Section 33(2) of the IBC; sets aside show cause notice

The NCLAT held that the CoC had the jurisdiction to decide on liquidation as per Section 33(2) and its explanation, even before completing all steps for resolution.

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT can’t impose fine on suspended directors for non-cooperation under Sections 19(2) or 34(3) of IBC: NCLAT

The Adjudicating Authority erred in passing the impugned order, directing the imposition fine, overlooking the law of the land through the Insolvency and Bankruptcy Code, 2016.