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 agencies, including the Serious Fraud Investigation Office (SFIO) and Economic Offences Wing (EOW).
This was challenged before NCLAT by Max Publicity submitting that no…
