NCLAT cannot suo moto conduct judicial review of decision of NCLT and change mode of sale of assets

R.K. Industries (Unit-II) LLP Vs H.R. Commercials Private Limited and Other (Supreme Court) Held that once the Liquidator applies to NCLT, to adopt particular mode of sale of movable and immovable assets of the Corporate Debtor, which is approved by NCLT, there is no provision in the IBC that empowers NCLAT to suo motu conduct a judicial review of the said decision. Facts- Appellant has approached the court with a grievance that there was no good reason for the NCLAT to have permitted the procedure of Private Sale of the composite assets of the Corporate Debtor instead of taking the Second Swi...