Does NCLAT have power to review or recall its judgment? NCLAT 5-member bench answers
A 5-member bench overturned two judgments delivered by 3-judge bench which held that the NCLAT does not have the power to review or recall its own judgements.
Justice Ashok Bhushan
Insolvency proceeding can be restored when Consent term entered between parties includes a revival clause: NCLAT
“When consent term itself contains clause for revival, non-giving liberty specifically for revival by the Adjudicating Authority is inconsequential”, held NCLAT
Section 74 of Contract Act has no application on Public Auction conducted under the Liquidation Process Regulations, 2016: NCLAT
NCLAT observed that in the instant matter “there was no title defect in the Corporate Debtor”.
No benefit to Corporate Debtor, if Criminal Proceedings were initiated after receipt of Demand Notice: NCLAT upholds NCLT’s order
While upholding NCLT’s order the NCLAT held that in the present case there is a debt which remained unpaid by the Operational Creditor.
Messiah of the sufferers: Bidding adieu to Justice Ashok Bhushan
by Suchita Shukla†