Corporate Debtors Can’t Backtrack on Prior Approvals: NCLT Upholds Liability Despite Change in Position
I. Introduction In a significant ruling delivered on 9th May 2025, the National Company Law Tribunal (NCLT), New Delhi Bench, admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by M/s Liberium Global Resources Pvt. Ltd. against M/s Amritsar MSW Limited. The tribunal reiterated a fundamental principle of law: a […]
