Understanding Judicial Review in IBC and Role of Adjudicating Authority

In re UCAL Products Private Limited (NCLT Chennai) Introduction: The National Company Law Tribunal (NCLT) Chennai recently rendered a significant judgment in the case of UCAL Products Private Limited. This ruling delves into the scope of judicial review under the Insolvency and Bankruptcy Code (IBC) and sheds light on the Adjudicating Authority’s role in light of key decisions made by the Hon’ble Supreme Court. Subheading-wise Analysis: 1. Limited Judicial Review Under IBC: The NCLT Chennai’s ruling underscores the principle of limited judicial review available to the Adjudic...