Highlights
- The Supreme Court upheld the NCLAT’s decision to remand the case back to the NCLT for reconsideration.
- The NCLAT had previously determined that GTL Limited defaulted on its debt, allowing Canara Bank to initiate insolvency proceedings.
The Supreme Court has dismissed GTL Limited‘s appeal against the National Company Law Appellate Tribunal‘s order, which remanded the matter back to the National Company Law Tribunal for fresh consideration of all facts.
Earlier, The NCLT dismissed the petition filed by Canara Bank for initiation of the Corporate Insolvency…
