https://www.taxtmi.com/caselaws?id=435206 The Tribunal dismissed the appeals, ruling that the NCLT lacks jurisdiction to address issues related to the attachment of property under the Benami Act within insolvency proceedings. It emphasized the need to adhere to the procedural hierarchy and remedies provided by the Benami Act, noting the Act's overriding effect in cases involving benami transactions and property confiscation. The Tribunal underscored the public interest aspect of the Benami Act, affirming that it prevails over the IBC, 2016, and that the Liquidator's powers are subject to the Adjudicating Authority's supervision. en-us Mon, 13 Mar 2023 00:00:00 +0530 Tue, 14 Mar 2023 23:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435206 The Tribunal dismissed the appeals, ruling that the NCLT lacks jurisdiction to address issues related to the attachment of property under the Benami Act within insolvency proceedings. It emphasized the need to adhere to the procedural hierarchy and remedies provided by the Benami Act, noting the Act's overriding effect in cases involving benami transactions and property confiscation. The Tribunal underscored the public interest aspect of the Benami Act, affirming that it prevails over the IBC, 2016, and that the Liquidator's powers are subject to the Adjudicating Authority's supervision. Case-Laws Companies Law Mon, 13 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435206