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SC: NCLT can decide disputes related to insolvency of corporate debtor
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New Delhi, March 9 (TIWN) The Supreme Court on Monday held that National Company Law Tribunal (NCLT) has jurisdiction to decide disputes in connection with the insolvency of a corporate debtor.
In a 138-page judgment, a bench of Justices D.Y. Chandrachud and M.R. Shah said: "NCLT has jurisdiction to adjudicate disputes, which arise solely from or which relate to the insolvency of the Corporate Debtor."
However, the top court issued a note of caution to NCLT and its appellate tribunal NCLAT to ensure that they do not usurp the legitimate jurisdiction of other courts, tribunals and fora when the dispute is one which does not arise solely from or relate to the insolvency of the corporate debtor.
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