NCLAT Dismisses Appeal on CIRP Initiation Under IBC Section 65; Procedural Objections Must Be Raised Before NCLT First.

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....Initiation of CIRP - Section 65 of the IBC - NCLAT dismissed the appeal on the ground that an objection for admitting application should be raised before NCLT first - The plea of collusion could not have been raised for the first time in the appeal before the NCLAT or before this Court in this appeal. Thus, we relegate the appellant to the remedy before the Adjudicating Authority. - SC....