https://www.taxtmi.com/caselaws?id=415012 The Tribunal held that the National Company Law Tribunal (NCLT) has contempt jurisdiction under the Insolvency and Bankruptcy Code (IBC), 2016. The NCLT can exercise inherent powers to direct payment release. The Tribunal allowed the appeal, set aside the previous order, and directed the Adjudicating Authority to reconsider the Contempt Application. The case was remanded for a fresh decision on merits to ensure effective implementation of the IBC. en-us Mon, 22 Nov 2021 00:00:00 +0530 Wed, 24 Nov 2021 08:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415012 The Tribunal held that the National Company Law Tribunal (NCLT) has contempt jurisdiction under the Insolvency and Bankruptcy Code (IBC), 2016. The NCLT can exercise inherent powers to direct payment release. The Tribunal allowed the appeal, set aside the previous order, and directed the Adjudicating Authority to reconsider the Contempt Application. The case was remanded for a fresh decision on merits to ensure effective implementation of the IBC. Case-Laws Insolvency and Bankruptcy Mon, 22 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415012