The NCLAT challanged an order restraining them from conducting arbitration proceedings against Shaadi.com s supremo Anupam Mittal. The case is now likely to come up for hearing on February 23
The National Company Law Appellate Tribunal (NCLAT) has ruled that former promoters and directors of a company undergoing insolvency are not automatically barred from submitting resolution plans. The decision came as NCLAT set aside an order from the Mumbai bench of the National Company Law Tribunal (NCLT) that invoked Section 29A of the Insolvency and Bankruptcy Code to restrict such individuals from submitting a resolution plan.