Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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After Initiation Of CIRP, There Can Be No Encumbrances On Corporate Debtor's Assets: NCLT Chennai
Insolvency & Bankruptcy CodeOther Legal Matters
The NCLT, Chennai, has ruled that "after the initiation of CIRP, there can be no encumbrances on the corporate debtor's assets." The tribunal's decision clarifies a key procedural aspect of the IBC. The ruling reinforces the principle that a company that is in insolvency cannot be burdened with any new liabilities.
