NCLAT Calls Out NCLT’s Non-speaking Order as Violative of Natural Justice

Parikshit Madanmohan Sharma Vs M.S. Gopikrishnan & Ors. (NCLAT Delhi) Introduction: In a significant development, the National Company Law Appellate Tribunal (NCLAT) in Delhi has directed the National Company Law Tribunal (NCLT), Mumbai Bench, to reassess compliance with Section 7(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), specifically concerning the threshold of the number of allottees required for the initiation of the Corporate Insolvency Resolution Process (CIRP). The case, titled Parikshit Madanmohan Sharma Vs. M.S. Gopikrishnan & Ors., sheds light on the procedural nua...