The National Company Law Appellate Tribunal (NCLAT) has sought response from the Ministry of Corporate Affairs and the Insolvency and Bankruptcy Board of India on whether it or the National Company Law Tribunal (NCLT) can pass penal orders against entities which are successful bidders for companies under the Corporate Insolvency Resolution Process (CIRP), but fails to follow the process through.
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First Published: Mon, July 22 2019. 02:37 IST