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ERGO Analysing Developments Impacting Business: A Three Judge Bench of Supreme Court Upholds the Prevailing View that NCLT has Inherent Powers to Recall an Order Approving a Resolution Plan

Introduction

India, Company & Commercial, Insolvency & Restructuring, Litigation, Khaitan & Co, Coronavirus, Insolvency, National Company Law Tribunal
NCLT Mumbai orders reference to arbitration in an insolvency petition under the IBC

In a significant judgment dated 9 June 2020 titled ‘Indus Biotech Private Limited v.

India, Arbitration & ADR, Insolvency & Restructuring, Litigation, Khaitan & Co, Private equity, Title 11 of the US Code
Enforceability of time-barred claims vis-a-vis the insolvency and Bankruptcy Code - a critical analysis

Introduction

Recently, in Neelkanth Township and Construction Pvt. Ltd. v.Urban Infrastructure Trustees Ltd, Company Appeal (AT) (Insolvency) No. 44 of 2017 (Neelkanth Township), the National Company Law Appellate Tribunal (NCLAT) addressed several issues with regard to the Insolvency and Bankruptcy Code, 2016 (IBC).

India, Insolvency & Restructuring, Litigation, Khaitan & Co, Statute of limitations, Companies Act 2013 (India), Supreme Court of India