2019 (6) TMI 1638 - SCH - Insolvency and Bankruptcy

Clearance of outstanding dues of the secured creditor - HELD THAT - The liberty to the appellant to move an application within two weeks from today before the National Company Law Tribunal (NCLT) on the terms as requested to this Court. In case, such application is filed, the NCLT may consider and decide the same expeditiously in accordance with law. The Civil Appeals are accordingly disposed of.

Summary

The Supreme Court of India ordered the Managing Director of a company to clear outstanding dues to Union Bank of India within 15 days. The appellant was granted liberty to move an application before the National Company Law Tribunal (NCLT) within two weeks, and the NCLT was instructed to decide the matter promptly. The Civil Appeals were disposed of accordingly.