Disclaimer: This has been reported after the availability of the order of the Court and not on media reports so as to give an accurate report to our readers.
National Company Law Tribunal (NCLT), Mumbai Bench-II: In applications filed by Ancile Investment Company under Section 60(5), Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 11, National Company Law Tribunal Rules, 2016, seeking exclusion and return of pharmaceutical goods allegedly belonging to it from the assets of Arch Pharmalabs Ltd. undergoing corporate insolvency resolution process (CIRP), the Bench of Ashish Kalia (Judicial Member) and Anil Raj Chellan (Technical Member) dismissed both the applications. The Tribunal held that Ancile had failed to establish its…