https://www.taxtmi.com/caselaws?id=395958 A statutory tribunal cannot recall or review its own final admission order unless that power is expressly conferred; neither Section 420 of the Companies Act, 2013 nor Rule 11 of the NCLT Rules, 2016 authorised such review, so the proper remedy was appeal. A notification issued under the Insolvency and Bankruptcy Code enhancing the pecuniary threshold was held prospective only, because it contained no express retrospective mandate and could not be read as divesting pending proceedings. The recall application therefore failed, and the earlier admission order continued to operate. en-us Tue, 02 Jun 2020 00:00:00 +0530 Fri, 12 Nov 2021 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395958 A statutory tribunal cannot recall or review its own final admission order unless that power is expressly conferred; neither Section 420 of the Companies Act, 2013 nor Rule 11 of the NCLT Rules, 2016 authorised such review, so the proper remedy was appeal. A notification issued under the Insolvency and Bankruptcy Code enhancing the pecuniary threshold was held prospective only, because it contained no express retrospective mandate and could not be read as divesting pending proceedings. The recall application therefore failed, and the earlier admission order continued to operate. Case-Laws Insolvency and Bankruptcy Tue, 02 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395958