The National Company Law Appellate Tribunal (NCLAT) has set aside an order of the Adjudicating Authority that had permitted a creditor to intervene in a concluded voluntary liquidation process, despite the claim being filed beyond the prescribed limitation period.
The appeal was filed by the liquidator of Nextgen Procon Pvt. Ltd., challenging an order dated 6 August 2024 passed by the NCLT, New Delhi, which allowed a Section 60(5) application by M.R.A. Associates Pvt. Ltd., the respondent, to intervene and raise a claim during the pendency of the dissolution proceedings.
Nextgen Procon Pvt. Ltd. had entered into a project management and technical audit agreement with M.R.A. Associates in 2013. The agreement was terminated prematurely…