2019 (3) TMI 2013 - SCH - Insolvency and Bankruptcy

Maintainability of appeal - Jurisdiction of Adjudicating Authority to decide the claim or counter claim - Initiation of Corporate Insolvency Resolution Process - Material belonging to the Corporate Debtor - direction to Corporate Debtor to hand over custody of the Materials - restraining Insolvency Resolution Professional from alienating and/or creating any third-party interest in the Materials - HELD THAT - There are no reason to interfere with the impugned order dated 30.01.2019 passed by the National Company Law Appellate Tribunal, New Delhi. The appeal is dismissed.

Summary

The Supreme Court of India dismissed the appeal and upheld the order of the National Company Law Appellate Tribunal. The appellant's plea was rejected, but they were granted liberty to take further legal action.