NCLT Rule 49 Grants Adjudicating Authority Discretion to Proceed Ex Parte; This Power Is Not Absolute: NCLAT Delhi

Ashok Tiwari Vs DBS Bank India (Ltd.) & Anr. (NCLAT Delhi) The case of Ashok Tiwari Vs. DBS Bank India (Ltd.) & Anr. revolves around an appeal filed by a Suspended Director of the Corporate Debtor challenging an order passed by the National Company Law Tribunal (NCLT), New Delhi Bench (Court-II) on January 15, 2024. This order rejected the application filed by the appellant seeking to recall an earlier order passed on March 25, 2022, which admitted a Section 7 application filed by DBS Bank India Limited. The background of the case involves M/s. Vyam Technologies Ltd., the Corporate Deb...