Subsidiary Company Assets Cannot Form Part of Parent Company Insolvency: NCLAT Delhi

State Bank of India Vs Venugopal Dhoot (NCLAT Delhi) NCLAT Excludes Foreign Oil Assets from CIRP Because Subsidiary Assets Cannot Form Part of Parent Company Insolvency; Foreign Oil and Gas Assets Kept Outside Videocon CIRP Because CoC’s Commercial Wisdom Prevails; NCLAT Sets Aside NCLT Order Because Foreign Subsidiary Assets Cannot Be Added to Parent Company CIRP; Separate CIRPs for Domestic and Foreign Businesses Valid Because Businesses Required Different Resolution Strategies; Parent Company’s Guarantee Liability Does Not Transfer Subsidiary Assets into CIRP. The National Company Law A...