Claims cannot be Automatically Treated as CIRP Costs unless directly related to CIRP and approved by CoC: NCLAT [Read Order]
The NCLAT set aside the decision of NCLT Mumbai and held that NCLT erred in its decision by overstepping into the domain of the CoC's commercial decision-making
In a recent case, the National Company Law Appellate Tribunal ( NCLAT ) observed that claims cannot be automatically treated as the Corporate Insolvency Resolution Process ( CIRP ) costs unless directly related to CIRP and approved by Committee of Creditors ( CoC ). A contract entered with National Thermal Power Corporation Limited ( NTPC…
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