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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Application U/S 7 Of IBC Can Be Filed Against Multiple Corporate Debtors Forming Part Of Same Project: NCLAT
Insolvency & Bankruptcy CodeOther Legal Matters
The NCLAT has ruled that an "application under Section 7 of the IBC can be filed against multiple corporate debtors forming part of the same project." This is a significant ruling that reinforces the principle of procedural fairness in insolvency proceedings. The court's decision, which is a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence.
