A two-member NCLAT bench, while admitting the petition filed by HCL Tech MD and CEO C Vijayakumar stayed the National Company Law Tribunal (NCLT) order of January 17, 2022, to initiate insolvency against the IT major.
In a major relief to IT firm HCL Technologies, the National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings initiated against it on a plea filed by a creditor.