From powers of NCLT and HCs to DRAT rules, here're key court orders

Balancing powers of NCLT and HCs   The interplay of the power of the Company Court and the National Company Law Tribunal (NCLT) in winding up proceedings of a defaulting company has been a subject of several judgments in the past two years. In a comprehensive judgment two weeks ago, the Supreme Court clarified in detail when such proceedings can be transferred by the court to the tribunal. It ruled that even after the appointment of a liquidator, discretion is vested in the Company Court to transfer such petition to NCLT. It is only when the proceedings have reached a stage where it.....

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