https://www.taxtmi.com/caselaws?id=299144 The Supreme Court held that the mere appointment of a Provisional Liquidator does not divest the NCLT of its jurisdiction under the Insolvency & Bankruptcy Code. The Court recalled the order disposing of CP. No. (IB)-104(PB)/2018 and reinstated the petition, directing the Resolution Professional to continue proceedings. The decision reaffirmed the application and independence of the IBC in such cases, ensuring that its provisions are upheld despite concurrent winding up proceedings under the Companies Act, 1956. en-us Mon, 11 Mar 2019 00:00:00 +0530 Sun, 05 Dec 2021 14:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299144 The Supreme Court held that the mere appointment of a Provisional Liquidator does not divest the NCLT of its jurisdiction under the Insolvency & Bankruptcy Code. The Court recalled the order disposing of CP. No. (IB)-104(PB)/2018 and reinstated the petition, directing the Resolution Professional to continue proceedings. The decision reaffirmed the application and independence of the IBC in such cases, ensuring that its provisions are upheld despite concurrent winding up proceedings under the Companies Act, 1956. Case-Laws Insolvency and Bankruptcy Mon, 11 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299144