NCLT has set a dangerous precedent in the DHFL case2 min read . Updated: 26 May 2021, 01:22 AM IST
Order dilutes IBC’s section 29A that prevents promoters from taking back their companies
Should an insolvency court be worried about the commercial considerations in the resolution of an insolvency case or leave that to the stakeholders? While this could be a rhetorical question, the National Company Law Tribunal (NCLT) did not think so, and risked setting a dangerous precedent under the Insolvency and Bankruptcy Code (IBC).
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started
Select your Category