Section 19(2) Application Can Be Preferred For Effective Conduct Of CIRP Despite Challenge To Admission Of CIRP: NCLAT

The National Company Law Appellate Tribunal (NCLAT) held that an application under Section 192 of the Insolvency and Bankruptcy Code (IBC) can be preferred for the effective conduct of the Corporate Insolvency Resolution Process (CIRP), even if there is a challenge to the admission of the CIRP. The case involved a corporate debtor whose CIRP admission was under challenge. The NCLAT found that the application under Section 192 was necessary to ensure the smooth conduct of the CIRP and upheld its validity. This decision emphasizes the importance of procedural measures to facilitate the effective resolution of insolvency cases.