https://www.taxtmi.com/caselaws?id=756701 NCLAT set aside tribunal's dismissal of Section 7 application that was rejected without hearing arguments, holding that principles of natural justice require parties be heard before condemnation. The appeal was allowed and matter remanded for fresh consideration with speaking order after hearing both parties. Additionally, NCLAT overturned tribunal's dismissal of Section 60(5), 65 and 75 applications filed before Section 7 admission, clarifying that Section 65 applications are maintainable after filing of Section 7/9/10 applications, not after admission. Relying on SC precedent in Beacon Trusteeship and NCLAT decisions, the tribunal erred in dismissing applications solely on timing grounds. Both matters remanded for reconsideration. en-us Mon, 05 Aug 2024 00:00:00 +0530 Wed, 07 Aug 2024 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756701 NCLAT set aside tribunal's dismissal of Section 7 application that was rejected without hearing arguments, holding that principles of natural justice require parties be heard before condemnation. The appeal was allowed and matter remanded for fresh consideration with speaking order after hearing both parties. Additionally, NCLAT overturned tribunal's dismissal of Section 60(5), 65 and 75 applications filed before Section 7 admission, clarifying that Section 65 applications are maintainable after filing of Section 7/9/10 applications, not after admission. Relying on SC precedent in Beacon Trusteeship and NCLAT decisions, the tribunal erred in dismissing applications solely on timing grounds. Both matters remanded for reconsideration. Case-Laws Insolvency and Bankruptcy Mon, 05 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756701