In Absence of Fraud or Misrepresentation, Order Admitting CIRP cannot be Recalled: NCLT rules in favour of Canara Bank

NCLT has ruled that in the absence of fraud or misrepresentation, an order admitting CIRP cannot be recalled, favoring Canara Bank. This decision clarifies the finality of CIRP admission orders. The tribunal's ruling emphasizes the importance of adhering to statutory provisions. This judgment provides clarity on IBC procedures. The ruling underscores the need for legal compliance.