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        Case ID :
        Insolvency and Bankruptcy

        Initiation of CIRP - Jurisiction of NCLT to admit the...

        NCLT Clarifies Jurisdiction Limits u/s 7 of Insolvency Code; Jurisdiction Can't Be Assumed or Granted by Consent.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Initiation of CIRP - Jurisiction of NCLT to admit the application u/s 7 - Registration of the applicant, non-banking financial institution (NBFC), was cancelled during the pendency of the proceedings - Financial Creditors or not - The finding of a Court or Tribunal becomes irrelevant and unenforceable/ inexecutable once the forum is found to have no jurisdiction. Similarly, if a Court/Tribunal inherently lacks jurisdiction, acquiescence of party equally should not be permitted to perpetuate and perpetrate, defeating the legislative animation. The Court cannot derive jurisdiction apart from the Statute. - AT
                                Note: It is a system-generated summary and is for quick reference only.
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