The National Company Law Appellate Chennai comprising of Justice Sharad Kumar Sharma, (Member Judicial) and Jatindranath Swain (Member Technical) dismissed two appeals filed by the Corporate Debtor seeking to challenge the order of NCLT, Bangalore by which it was directed to be put into the liquidation process and second to challenge the order of the same tribunal which dismissed the prayer of the Appellant for issue of an appropriate direction to the liquidator to put on hold the auction of the immovable asset of the Corporate Debtor.
Background of the Case
The case deals with two company appeals preferred by the Appellant. The Appellant seeks to challenge the order of NCLT, Bangalore by which it was directed to be put…
