Procedural Rules Cannot Defeat Natural Justice in IBC Proceedings: NCLAT Delhi

Vinod Anand Vs Golden Rolls Private Limited (NCLAT Delhi) The appeal before the NCLAT, Delhi concerned the rejection by the NCLT, Delhi Bench of the appellant’s application to file an additional affidavit after Section 7 proceedings under the Insolvency and Bankruptcy Code, 2016 had been revived pursuant to a remand order directing the matter to be decided de novo. The NCLAT observed that procedural rules are intended to facilitate justice and should not be rigidly applied where they may deprive a party of an effective opportunity to present its case. It emphasized that proceedings before th...