NCLT Not Empowered To Adjudicate Disputes Concerning Auction Sale Of Property Not Forming Part Of Corporate Debtor's Assets: NCLT Indore

The NCLT (National Company Law Tribunal), Indore, ruled that it is "not empowered under Section 60(5) of IBC (Insolvency and Bankruptcy Code) to adjudicate disputes concerning auction sale of property not forming part of corporate debtor's assets." Section 60(5) grants NCLT broad powers to hear and dispose of questions of law or fact arising during insolvency resolution. However, the tribunal clarified its jurisdiction is limited to assets directly belonging to the corporate debtor. This decision ensures that disputes over third-party properties do not impede the insolvency process and are addressed in appropriate civil forums.