NCLT should have asked us before passing order: SC
The Supreme Court Tuesday said the National Company Law Tribunal (NCLT) should have taken its leave before allowing the Centre to take over the management of debt-ridden real estate company firm Unitech Limited.
On December 8, the NCLT had suspended all the eight directors of the firm over allegations of mismanagement and siphoning of funds and had authorised the Centre to appoint 10 nominees to the board.
“The leave of this court, which is seized of the matter, should have been taken by the NCLT,” the bench observed and posted the matter for hearing tomorrow.
Today, the Supreme Court bench of Chief Justice of India Dipak Misra and Justices AM Khanwilkar and DY Chandrachud also weighed in on the request of Additional Solicitor General Tushar Mehta that one day be given to him to seek instruction from the authorities on the appeal of Unitech against the order of the National Company Law Tribunal (NCLT).
The bench also took note of the submissions of senior advocate Mukul Rohatgi, appearing for the firm, that the NCLT had passed an interim order without hearing the company and its directors who are in jail.
The NCLT order had come after the Centre moved the panel with a view to …read more
