Important Judgments by NCLAT on Tuesday, October 3, Legal News, ET LegalWorld | Court Practice News

1. The court held that when the appellant did not file reply inspite of opportunity granted by the Adjudicating Authority even when the Adjudicating Authority granted opportunity to file a synopsis which also was not filed by the appellant. Thus, when inspite of opportunities granted by the Adjudicating Authority, Appellant could not avail the opportunity, he is not entitled for any indulgence in this Appeal.

Parvinder Singh Khurana v. Kamal AgarwalCompany Appeal (AT) (Insolvency) No.1296 of 2023 & I.A. No.4579 of 2023

2. The court reiterated that objective of the IBC is to revive the Corporate Debtor and liquidation is the last resort.It is well settled that objective of the IBC is to revive the Corporate Debtor and liquidation is the last resort.

Gayatri Polyrub Pvt. Ltd. v. Anil Kohli & AnrCompany Appeal (AT) (Insolvency) No.650 of 2023

[Written by Kumar Aditya (]

  • Published On Oct 4, 2023 at 12:20 AM IST

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