NCLT empowered to pass ad-interim orders before admitting Insolvency Application, NCLATJuly 24 2019
The National Company Law Appellate Tribunal (NCLAT) has held that the National Company Law Tribunal (Adjudicating Authority/ NCLT) is empowered to pass ad-interim orders, including an order restraining the Corporate Debtor from alienating its assets, before admitting any application under Sections 7, 9 or 10 of the Insolvency and Bankruptcy Code, 2016.
The judgment was delivered by a two-member Bench of Chairperson Justice SJ Mukhopadhaya and Member (Technical) Kanthi Narahari in an appeal by NUI . . .
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