https://www.taxtmi.com/caselaws?id=374338 The Appellate Tribunal found that the National Company Law Tribunal (NCLT) erred in rejecting the joint application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against two Corporate Debtors based on procedural deficiencies. The Appellate Tribunal emphasized that a joint application is permissible when two Corporate Debtors collaborate for a joint venture project. The NCLT's decision was overturned, and the case was remitted for admission, granting the Respondents a chance to settle before further proceedings. The appeal was allowed without costs. en-us Fri, 30 Nov 2018 00:00:00 +0530 Thu, 31 Jan 2019 07:34:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374338 The Appellate Tribunal found that the National Company Law Tribunal (NCLT) erred in rejecting the joint application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against two Corporate Debtors based on procedural deficiencies. The Appellate Tribunal emphasized that a joint application is permissible when two Corporate Debtors collaborate for a joint venture project. The NCLT's decision was overturned, and the case was remitted for admission, granting the Respondents a chance to settle before further proceedings. The appeal was allowed without costs. Case-Laws Insolvency and Bankruptcy Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374338