https://www.taxtmi.com/caselaws?id=448132 The Supreme Court allowed the appeal, setting aside the NCLAT's order and directing the NCLT to determine the admissibility of the application under Section 7 of the Insolvency and Bankruptcy Code 2016 after evaluating its merits. The Court emphasized the necessity for a thorough assessment before admitting the application and instructed the NCLT to expedite proceedings, with a decision due by 31 January 2024. The appellant assured the Court of no asset disposal to prejudice the respondents until the NCLT's final decision. en-us Fri, 15 Dec 2023 00:00:00 +0530 Fri, 12 Jan 2024 08:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448132 The Supreme Court allowed the appeal, setting aside the NCLAT's order and directing the NCLT to determine the admissibility of the application under Section 7 of the Insolvency and Bankruptcy Code 2016 after evaluating its merits. The Court emphasized the necessity for a thorough assessment before admitting the application and instructed the NCLT to expedite proceedings, with a decision due by 31 January 2024. The appellant assured the Court of no asset disposal to prejudice the respondents until the NCLT's final decision. Case-Laws Insolvency and Bankruptcy Fri, 15 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448132