In a recent ruling, the National Company Law Appellate Tribunal (NCLAT), Principal Bench, set aside an order of the National Company Law Tribunal (NCLT), Mumbai Bench, and remanded the matter back, citing a violation of the principles of natural justice.
The appeal was preferred by Mehul Harish Gosar against the NCLT, Mumbai Bench’s order dated 08.05.2025, which had admitted M/s. Parorch Developers LLP into the Corporate Insolvency Resolution Process (CIRP) on an application by a financial creditor.
Counsel for the appellant contended that the NCLT had admitted the company to CIRP without providing an opportunity of hearing. He further submitted that the appellant had since fully settled the dues of the financial…