Liquidator Cannot Adjudicate Claims, Counter Claims: NCLAT

FLSmidth Private Limited Vs Lanco Infratech Ltd. (NCLAT Chennai) In a recent decision, the National Company Law Appellate Tribunal (NCLAT) Chennai addressed the authority of a liquidator in insolvency cases. The case involved FLSmidth Pvt Ltd’s dispute with Lanco Infratech Ltd regarding claims and counterclaims, highlighting the limitations of a liquidator’s powers. FLSmidth Pvt Ltd initiated insolvency proceedings against Lanco Infratech Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. Subsequently, the company’s resolution professional (RP) was appointed, fo...