The Supreme Court upheld the ruling of National Company Law Tribunal ( NCLT) that The Insolvency and Bankruptcy Code, 2016 (IBC) moratorium does not prevent the corporate debtor from voluntarily turning over leased property to the lessors if doing so is deemed unfeasible and endorsed by the Committee of Creditors (“CoC”).
Sincere Securities Private Limited & Ors, the appellant, filed the appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 , calls in question the order dated 12.11.2024 passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi , allowing Company Appeal (AT) (Insolvency) No. 1064 of 2023 filed by Chandrakant Khemka, respondent No. 1, and setting aside the order dated…