Residuary jurisdiction of NCLT under section 60(5)(c) of I&B Code is limited

Sundresh Bhat RP of JBF Petrochemical Limited Vs Manglore Refinery and Petrochemicals Limited (NCLT Ahmedabad) NCLT Ahmedabad held that residuary jurisdiction of National Company Law Tribunal under section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 is limited. Accordingly, application rejected. Facts- This application u/s. 60(5)(C) of the Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) and Rule 11 of the National Company Law Tribunal Rules, 2016 is filed by Sundaresh Bhat, Resolution Professional of JBF Petrochemicals Limited (hereinafter referred to as the “Corporate Debtor...