Supreme Court Challenges NCLAT Directive, Calls for Merit-Based Assessment in Section 7 Petition Admittance
In a pivotal legal development, the Supreme Court has overturned a National Company Law Appellate Tribunal (NCLAT) directive instructing the National Company Law Tribunal (NCLT) to admit a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), without a comprehensive examination of the rival contentions on their merits. The esteemed bench, led …


