Insolvency and Bankruptcy Code, 2016 —— When can the Residuary power of NCLT under S. 60(5) be exercised
Held, Considering the text of S. 60(5)(c) and the interpretation of similar provisions in other insolvency related statutes, NCLT has jurisdiction to adjudicate disputes, which arise solely from or which relate to the insolvency of the corporate debtor. However, in doing do, NCLT and NCLAT have to ensure that they do not usurp the legitimate […]