Case Law Details
Case Name : Usha Holdings LL.C. & Anr. Vs Francorp Advisors Pvt. Ltd. (NCLAT Delhi)
Appeal Number : Company Appeal (AT) (Insolvency) No. 44 of 2018
Date of Judgement/Order : 30/11/2018
Related Assessment Year :
Courts :
NCLAT
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Usha Holdings LL.C. & Anr. Vs Francorp Advisors Pvt. Ltd. (NCLAT Delhi)
Conclusion –
- The National Company Law Appellate Tribunal concluded that the National Company Law Tribunal (NCLT) is not a ‘Court’ or a ‘Tribunal’ and hence cannot decide legality of a foreign decree. NCLAT held that deciding the legality or illegality of a foreign decree is outside the jurisdiction of NCLT.
- The appellant does not come within the meaning of ‘operational debt’ and thereby the appellant cannot be held to be the ‘operational creditor’.
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To recall : For the proposition, in general, why ‘Tribunal’ is not a ‘court’, and could never be a sustitute to ‘court’, ‘in its legal connotation, for a detailed judicial opion see SC Judgment in –
Madras Bar Association vs Union Of India & Anr.
https://indiankanoon.org/doc/181443842/