18-February-2019
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Commercial Laws
 
Apex court declines to use powers to reverse liquidation orders
11-Feb-2019

The Supreme Court has declined to use its powers relegated under Article 142 to revoke the liquidation order pronounced by National Company Law Appellate Tribunal (NCLAT) in Kamineni Steel & Power India and Innoventive Industries saying it will set a trend in the insolvency proceedings under IBC. Article 142 of the Constitution allows the Supreme Court to pass any orders it thinks necessary to serve justice.

News Source:- https://www.thehindubusinessline.com/news/apex-courtnoscno-declines-to-use-powers-to-reverse-liquidation-orders/article26230913.ece