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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Informative
Relief under IBC 60(5) on Liquidator Rejection of Claims Unavailable when Remedy under IBC 42 is not Used: NCLAT
Appeal Against OrderInsolvency & Bankruptcy Code
The NCLAT has ruled that relief under IBC Section 60(5) on liquidator rejection of claims is unavailable when the remedy under IBC Section 42 is not used. This decision clarifies the procedural requirements for seeking relief in liquidation cases. It ensures that parties follow the prescribed legal channels. This ruling underscores the importance of adhering to IBC procedures. It highlights the need for proper legal recourse. The NCLAT's order provides clarity on IBC regulations.
