The National Company Law Appellate Tribunal (NCLAT) has rejected Jaiprakash Associates Ltd’s plea challenging insolvency proceedings initiated against the company. The decision upholds the NCLT’s order to initiate Corporate Insolvency Resolution Process (CIRP) against the company.
New Delhi, Dec 6 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Friday rejected Jaiprakash Associates Ltd’s petition challenging the insolvency proceedings initiated against the company.
A three-member bench led by Chairperson Justice Ashok Bhushan has upheld the orders passed by the National Company Law Tribunal (NCLT), which had directed to initiate Corporate Insolvency Resolution Process (CIRP) against the company.
The appellate tribunal said…
