NCLT is Empowered to Allow Amending Pleadings before Final Orders in CIRP Proceedings: NCLAT

The National Company Law Appellate Tribunal (NCLAT) has ruled that the National Company Law Tribunal (NCLT) is empowered to allow amendments to pleadings before final orders are issued in Corporate Insolvency Resolution Process (CIRP) proceedings. This ruling clarifies that parties involved in CIRP have the opportunity to amend their pleadings if new facts come to light or if there is a need for clarifications. The decision aligns with the principles of natural justice, allowing for a more flexible and fair process. It also ensures that all relevant information is considered before final orders are passed in insolvency proceedings.