NCLT direction to handover Corporate Debtor to ex-management due to stay of CIRP unjustified

Mukesh Kumar Jain Vs Navin Kumar Upadhyay & Anr. (NCLAT Delhi) NCLAT Delhi held that Adjudicating Authority (NCLT) directing Resolution Professional to handover the Corporate Debtor to the ex-management on account of stay of the CIRP is wholly unjustified and accordingly such direction is liable to be set aside. Facts- The present Appeals have been filed against the two orders passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi (Court No. III) in IA No. 2403/2023 filed by Mr. Navin Kumar Upadhyay- Respondent No.1 herein and IA No. 964 of 2023 filed by Mr. Mukesh...