Judicial Restraint is No Excuse: NCLAT Upholds EMD Forfeiture for Payment Default in IBC Auction
Introduction The specter of insolvency casts a long shadow over commercial transactions, making the rules governing the liquidation process a matter of paramount importance for all stakeholders. The NCLAT1, Principal Bench, New Delhi, delivered a decisive judgment in the matter of Deepika Bhugra Prasad, Liquidator, M/s Ess Dee Aluminium Ltd. v. Lucky Holdings Pvt. Ltd2.. This pivotal ruling, authored by […]
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