NCLAT Upholds CIRP Initiation by Central Bank Against Corporate Guarantor Despite Stamping and Novation Contentions, Dismisses Appeal of SEPL’s Ex Director [Read Order]
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has dismissed an appeal filed by Siddharth Satish Katariya, Ex-Director of Superfine Extrusions Private Limited (SEPL), challenging the initiation of Corporate Insolvency Resolution Process (CIRP)by Central Bank against the company, pointing to insufficient stamping. The Tribunal upheld the order of the National Company Law…