Alerts & Updates 7th Sep 2018
The National Company Law Appellate Tribunal (“NCLAT”), in the matter of Ameya Laboratories Limited v/s Kotak Mahindra Bank Ltd. & Ors., vide its order dated January 12, 2018 (available here), has held that the corporate insolvency resolution process under Section 10 of the Insolvency and Bankruptcy Code, 2016 (“Code”) cannot be initiated where a winding-up order was already passed against a corporate applicant company, even though a stay order has been passed against the winding-up order.
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