Ex-promoters cannot continue in Insolvent Company in any capacity: SC

Neeraj Singal & Anr Vs Tata Steel Ltd. & Anr. (Supreme Court of India) Having heard Shri Harin P. Raval, learned Senior Advocate, appearing on behalf of the appellants and Dr. Abhishek Manu Singhvi, learned Senior Advocate, appearing on behalf of the contesting respondents and having gone through the impugned judgment and order passed by the National Company Law Appellate Tribunal [NCLAT], we see no reason to interfere with the same.  As such, we are in complete agreement with the view taken by the National Company Law Tribunal [NLCT] as well as the NCLAT. If the submission on behalf ...