Parties cannot be asked to approach HC to hand-hold NCLT

M/s. Kotak Mahindra Bank ltd Vs K. Bharathi (Madras High Court) In the order dated March 26, 2021 passed by the NCLT, the following observation is made in the penultimate paragraph thereof: “The Insolvency and Bankruptcy Code, 2016 (IBC) is time bound. … The complexities in this matter and pending litigations before various courts have been major impediment in conducting CIRP. Since the matter is pending before the Division Bench of the Hon’ble High Court of Madras, all the parties shall place this matter before Hon’ble High Court for direction whether this Adjudicating Aut...