Repeated Filing Of Applications U/S 42 Of IBC Violates Principle Of Res Judicata, Amounts To Abuse Of Law: NCLAT Chennai

NCLAT (National Company Law Appellate Tribunal), Chennai, held that repeated filing of applications under Section 42 of the IBC (Insolvency and Bankruptcy Code) violates the principle of res judicata and amounts to an abuse of the process of law. Section 42 likely deals with appeals or applications within the IBC framework. The NCLAT's ruling aims to prevent frivolous and repetitive litigation, ensuring the efficiency of the insolvency resolution process by upholding the finality of decisions.