Territorial Jurisdiction of NCLT cannot Be taken away by Agreement between Parties

Anil Kumar Malhotra Vs Mahindra & Mahindra Financial Services Ltd. (NCLAT, Delhi) Adjudicating Authority in relation to Insolvency Resolution shall be the National Company Law Tribunal having territorial jurisdiction over the place where the registered office of the corporate persons is located. The provisions of Insolvency and Bankruptcy Code, 2016 has to be given overriding effect by virtue of Section 238 of the Code. In view of the Section 60(1) read with Section 238 of the Code, the Appellant cannot rely on clause 24.12 to the Facility Agreement which provides jurisdiction to the Mumba...