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NCLT Cannot Exercise Power To Initiate Insolvency Proceedings Arbitrarily: Supreme Court


The bench, in its 34-page judgement, set aside the verdicts of NCLT and the National Company Law Appellate Tribunal (NCLAT) refusing to stay the insolvency proceedings sought to be initiated by corporate creditor Axis Bank Limited against defaulting firm, Vidarbha Industries Power Limited (VIPL), of Maharashtra.





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