NCLAT Sets Aside NCLT Order Allowing Suspended Director to Pursue Settlement Amid Plan Approval Proceedings

Nehru Place Hotels And Real Estates Private Limited Vs Sanjeev Mahajan (NCLAT) In a recent development, the National Company Law Appellate Tribunal (NCLAT) in Delhi has overturned an order issued by the National Company Law Tribunal (NCLT), New Delhi, permitting a suspended director to engage in settlement discussions while the approval process for a resolution plan was underway. The case, titled Nehru Place Hotels And Real Estates Private Limited Vs Sanjeev Mahajan, saw the NCLAT delving into complex procedural matters surrounding insolvency proceedings. The crux of the matter revolved around...