Corporate Debtor's Contempt Application Against CIRP Initiation for Samhita Project Dismissed.

The National Company Law Appellate Tribunal (NCLAT) dismissed a contempt application against the adjudicating authority regarding the initiation of the Corporate Insolvency Resolution Process (CIRP) for the Samhita project. It found no contempt in admitting a Section 7 application against the corporate debtor as the adjudicating authority acted within its statutory jurisdiction under the Insolvency and Bankruptcy Code (IBC). The initiation of CIRP did not contravene a prior NCLAT order from January 2021, rendering the contempt application meritless. .....

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