In a significant ruling, the Supreme Court of India has set aside an order by the National Company Law Appellate Tribunal (NCLAT) that rejected an application for condonation of delay in filing an appeal under the Insolvency and Bankruptcy Code (I.B. Code). The case, titled Power Infrastructure India vs. Power Finance Corporation Ltd. & Anr.
Supreme Court Criticizes NCLAT’s ‘Hyper-Technical’ Approach, Allows Delay Condonation
