NCLAT set aside order of IBC adjudicating authorities imposing penalty under Companies Act, 2013

Ashish Chaturvedi Vs Inox Leisure Limited  (NCLAT Delhi)

With regard to the argument of the Learned Counsel of the Appellants that the Adjudicating Authority has imposed the penalty on the two ex-directors by invoking provisions of the Companies Act, 2013, and thus passed the Impugned Order by travelling beyond their jurisdiction, we are of the view that since the

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