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A coram of Chairperson Ashok Bhushan and technical member Arun Baroka observed in an April 19 order that a person who sleeps over their rights should not be given the indulgence of condonation of delay.
NCLT had initiated the CIRP against the chartered helicopters and aircrafts company on April 5 for alleged default of over ₹9 crores.
Dream 11 co-founder Bhavit Sheth filed an application claiming that the application seeking initiation of insolvency against Dream 11 was barred under Section 10A of IBC.
When it comes to proposals to withdraw CIRP, it is not enough to only count the opinion of the majority of homebuyers, the NCLAT held.
The article provides a brief look at important orders passed by the NCLAT under the IBC between December 1 and December 15, 2023.