NCLT Upholds RP’s Stance on Malafide Assignment for Indirect CoC Representation

Peanence Commercial Private Limited Vs Rolta Private Limited (NCLAT Delhi) The case of Peanence Commercial Private Limited vs. Rolta Private Limited revolves around the complexities of Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) of India. This case was heard by the National Company Law Appellate Tribunal (NCLAT) in Delhi, following an appeal against an order passed by the National Company Law Tribunal (NCLT), Mumbai Bench-I. Case Background: CIRP was initiated against the Corporate Debtor, Rolta India Limited, by an order dated 19.01.2023. Rolt...