foremost argued that the
members of the National Company Law Tribunal [―NCLT‖] and certain
members of the National Company Law Appellate Tribunal [―NCLAT‖],
apart from ... should
be from the Ministry of Law and Justice. However, even today, NCLT
and NCLAT are functioning under the Ministry of Corporate Affairs.
This again
Whether questions of fraud can be inquired into by
the NCLT/NCLAT in the proceedings initiated under the
Insolvency and Bankruptcy Code, 2016,
arise ... staying the operation of a
direction contained in the order of the NCLT, on a
Miscellaneous Application filed by the Resolution Professional
National Company Law Tribunal,
Kolkata Bench, Kolkata (hereinafter referred to as “NCLT”).
4
5. Vide order dated 3.8.2017, Company Petition ... crore.
10. NCLT by an elaborate order dated 22.6.2018
approved the Resolution Plan of GMSPL, which was duly
approved by CoC by voting share
Verified
Digitally signed by R
Natarajan
Date: 2020.12.15
15:50:23 IST
[“NCLT”] was upheld. The brief facts necessary to appreciate the
Reason:
controversy involved ... appellant company, seeking transfer
of the winding up petition to the NCLT in view of the fact that SBI had
filed an application under section
Code before the National Company Law
Tribunal (hereinafter referred to as “NCLT”) Allahabad Bench,
alleging that Jaypee had defaulted on a loan ... would not only be unworkable, as thousands of
petitions would flood the NCLT, but would also be both arbitrary
and unworkable when this large number
would become clear that proceedings before the National
5
Company Law Tribunal (“NCLT”) arising under the Code would
be covered by the Limitation ... various judgments of this Court, the Limitation
Act cannot apply to the NCLT as it is a tribunal and not a court.
He cited
jurisdiction of the
National Company Law Tribunal (hereinafter referred to as
“NCLT”/“Adjudicating Authority”) and the National Company Law
2
Appellate Tribunal (hereinafter referred ... Satish Kumar Gupta (2019) 2 SCC 1.
2. On 02.08.2017, the NCLT, Ahmedabad admitted Company
Petition (I.B.) No. 39 of 2017 filed by Standard
signed by R
Date: 2019.11.16
12:48:18 IST
Reason:
Law Tribunal (“NCLT”) under the provisions of that Code.
2
2. MCGM owns inter alia ... 2017) was
admitted by the Hyderabad Bench of the NCLT. The first
respondent was appointed as the Resolution Professional (hereafter
“RP”); this was approved
order passed by the National
Company Law Tribunal, Mumbai Bench (for short “NCLT
Mumbai”) recording rejection of the resolution plan concerning
IIL and directing initiation ... reversed the decision of the National Company Law
Tribunal, Hyderabad (for short “NCLT Hyderabad”) which had
approved its resolution plan and instead remanded the
proceedings
short)
2
providing for the constitution of National Company Law Tribunal (`NCLT'
or `Tribunal') and National Company Law Appellate Tribunal (`NCLAT ... companies,
3
there is no legislative competence to provide for constitution of NCLT and
NCLAT.
(iv) The various provisions of Chapters
