VirtuaLaw Blog

Critical Analysis of Indian Corporate Laws

S. 59 of IBC and Voluntary Liquidation under Companies Act

The Hon’ble NCLAT has held that the jurisdiction exercised by the Adjudicating Authority is vested in it and cannot be termed improper. Despite being of the view that the claim initially left out by the Respondent No.1 was payable, the Liquidator proceeded to reject the same without any justifiable reason which cannot be supported.
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