Maintainability of application - initiation of CIRP - NCLT ...
NCLT Rejects CIRP Application Due to Applicant's Non-Appearance; Stresses Merit-Based Decisions for Restoration Applications.
July 5, 2022
Case Laws Insolvency and Bankruptcy AT
Maintainability of application - initiation of CIRP - NCLT rejected the application for non-appearance - If there is inaction, want of Bonafide, which is imputable to the Applicant/Appellant, then the Restoration Application is not to be allowed by a Tribunal or by a Court of Law. Of course, the Tribunal is to decide the Restoration Application on merits. It must be remembered that time is precious and a wasted time will never come back again or revisit in the considered opinion of this Tribunal. - AT
View Source