Malpractices & Customs Duty Evasion requires Investigation, Not IBC Admission: NCLAT

Subhash N Dawar Vs Nanjing Maohj Information & Technology Co. Ltd. (NCLAT Delhi) In a significant ruling for operational creditors, the National Company Law Appellate Tribunal (NCLAT), Delhi, has dismissed an appeal filed by Subhash N Dawar, representing the suspended management of M/s Alliance Embroidery Machine Private Limited (‘Corporate Debtor’). The NCLAT’s decision, issued on April 10, 2024, upheld the National Company Law Tribunal (NCLT) Ahmedabad’s order admitting an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), filed by Nanj...