https://www.taxtmi.com/caselaws?id=405298 The National Company Law Appellate Tribunal (NCLAT) allowed the appeal filed by SBI, setting aside the NCLT's order and directing the NCLT to restore the insolvency petition. The NCLAT held that the RBI's direction to SBI was valid as it was based on the Central Government's authorization. The NCLAT dismissed the interlocutory application by the corporate debtor and instructed the NCLT to proceed with the insolvency petition according to the law. en-us Mon, 15 Mar 2021 00:00:00 +0530 Wed, 17 Mar 2021 09:10:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405298 The National Company Law Appellate Tribunal (NCLAT) allowed the appeal filed by SBI, setting aside the NCLT's order and directing the NCLT to restore the insolvency petition. The NCLAT held that the RBI's direction to SBI was valid as it was based on the Central Government's authorization. The NCLAT dismissed the interlocutory application by the corporate debtor and instructed the NCLT to proceed with the insolvency petition according to the law. Case-Laws Insolvency and Bankruptcy Mon, 15 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405298