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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NCLT Admits IBC Plea against Palchan Bhang Power for Default in Repaying ₹5.7 Cr over 10-Year Interest-Free Period
Corporate Law & GovernanceInsolvency & Bankruptcy Code
The NCLT has admitted an "IBC plea against Palchan Bhang Power" for "default in repaying ₹5.7 crore over a 10-year interest-free period." The tribunal's decision provides a significant victory for the financial creditors. The ruling clarifies that a company cannot escape its financial obligations by claiming a technicality. This is a crucial development for the ongoing efforts to resolve the company's financial crisis.
