NCLT Kochi Rejects Insolvency Plea Against BPL, Finds It Was Attempt To Recover Arbitral Award Dues
The National Company Law Tribunal (NCLT) at Kochi has recently dismissed an insolvency plea against consumer electronics company BPL Limited. It held that the Insolvency and Bankruptcy Code (IBC) cannot be invoked as an additional or parallel mechanism to recover the balance amount under an arbitral award after a creditor has already pursued execution proceedings.…

