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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No Adjudicatory Power Under IBC To Reconstitute CoC Or “Provisional Constitution” Of CoC: NCLAT, Chennai
Corporate Law & GovernanceInsolvency & Bankruptcy Code
The NCLAT Chennai has ruled that it has "no adjudicatory power under the IBC to reconstitute a CoC" once it is constituted, and that there is "no concept of a provisional constitution of a CoC" in a Byju's insolvency case. The tribunal's decision clarifies a key procedural aspect of the IBC. The ruling reinforces the principle that a CoC cannot be reconstituted.
