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NCLAT directs liquidation of KS Oils, pulls up NCLT for lapse of 981 days
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Last Updated: Mar 17, 2021, 05:25 PM IST
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Synopsis
The National Company Law Appellate Tribunal (NCLAT) has directed to initiate liquidation process of leading integrated edible oil company K S Oils Ltd and set aside an NCLT order passed against it.
The National Company Law Appellate Tribunal (NCLAT) has directed to initiate liquidation process of leading integrated edible oil company K S Oils Ltd and set aside an NCLT order passed against it. Terming it unfortunate , the appellate tribunal observed that even after the lapse of 981 days and repeated compliance by the Resolution Professional to initiate the liquidation process, the NCLT had not considered it.