Mumbai: India’s appellate insolvency tribunal, the National Company Law Appellate Tribunal (NCLAT), has set aside an earlier order of the National Company Law Tribunal (NCLT) that rejected an insolvency petition filed by Culver Max Entertainment, formerly known as Sony Pictures Networks India.
In its ruling, the appellate tribunal remanded the matter back to the NCLT’s Cuttack bench, directing it to hear the case afresh after giving the broadcaster an opportunity to rectify procedural deficiencies in its application.
The NCLAT, in an order dated December 10, 2025, said the exercise should preferably be completed within two months.
NCLAT flags procedural lapse by NCLT
A two-member NCLAT bench comprising Justice Yogesh Khanna…