https://www.taxtmi.com/caselaws?id=301455 The High Court referred the jurisdictional dispute regarding the National Company Law Tribunal's authority to entertain an avoidance application post-approval of a resolution plan in Empee Distilleries Limited's insolvency proceedings back to the NCLT for resolution. The Court emphasized the specialized nature of insolvency proceedings under the Insolvency and Bankruptcy Code and directed the NCLT to expedite the disposal of the avoidance application within eight weeks. The parties were instructed to present their arguments before the NCLT, and the petitioner was given a week to file its counter-affidavit. No costs were awarded, and related interim applications were closed. en-us Wed, 04 Aug 2021 00:00:00 +0530 Mon, 04 Apr 2022 20:58:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301455 The High Court referred the jurisdictional dispute regarding the National Company Law Tribunal's authority to entertain an avoidance application post-approval of a resolution plan in Empee Distilleries Limited's insolvency proceedings back to the NCLT for resolution. The Court emphasized the specialized nature of insolvency proceedings under the Insolvency and Bankruptcy Code and directed the NCLT to expedite the disposal of the avoidance application within eight weeks. The parties were instructed to present their arguments before the NCLT, and the petitioner was given a week to file its counter-affidavit. No costs were awarded, and related interim applications were closed. Case-Laws Companies Law Wed, 04 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301455