Neelkanth Township & Construction Pvt. Ltd versus Urban Infrastructure Trustees Ltd..: NCLAT answers simple yet important questions

The judgment was pursuant to an appeal filed by the Corporate Debtor (Neelkanth Township & Construction Pvt. Ltd.) against the order of the National Company Law Tribunal, Mumbai Bench (“NCLT”) directing the commencement of insolvency proceedings against the Financial Creditor. The NCLAT has cleared the answer to several grounds, predominantly dealt with the following: Is […]

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