Initiation of CIRP - Jurisiction of NCLT to admit the application u/s 7 - Registration of the applicant,...

Initiation of CIRP - Jurisiction of NCLT to admit the application u/s 7 - Registration of the applicant, non-banking financial institution (NBFC), was cancelled during the pendency of the proceedings - Financial Creditors or not - The finding of a Court or Tribunal becomes irrelevant and unenforceable/ inexecutable once the forum is found to have no jurisdiction. Similarly, if a Court/Tribunal inherently lacks jurisdiction, acquiescence of party equally should not be permitted to perpetuate and ..... .....

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