NCLAT clarifies NCLT’s authority to order investigations into company affairs in insolvency cases under the Companies Act, subject to preconditions.
New Delhi, Jun 16 (PTI) Appellate tribunal NCLAT has clarified that the National Company Law Tribunal (NCLT) can order an investigation into the affairs of a company by probe agencies in cases related to the Insolvency & Bankruptcy Code by exercising its power under the Companies Act.
The NCLAT order came on May 15 over a plea filed by Max Publicity & Communication which had challenged an NCLT order.
The Mumbai bench of NCLT, on January 21, 2025, while rejecting an insolvency plea against Max Publicity & Communication, issued a direction to forward a copy of the order to investigative…
