NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) said that a liquidator of a company can recover possession of a corporate debtor‘s assets from occupants directly through the NCLT, without resorting to rent-control proceedings.
A two-member bench of the appellate tribunal has dismissed appeals by two Ludhiana-based firms — Duke Fashions and UV&W Products — and upheld the order passed by the Chandigarh bench of the National Company Law Tribunal (NCLT) in this matter.
The NCLT had directed Duke Fashions (India) and UV&W Products to vacate two commercial properties – Karabara and Hussainpura – within two weeks.
This was…