Adjudicating Authorities and Appellate Authorities

A company in Thane is admitted into insolvency. A few weeks later its landlord files a civil suit in the city civil court to throw it out of the premises, and its old lender tries to get an injunction from another court. Both are told they are in the wrong place. Why? Because the Insolvency and Bankruptcy Code gives one specialist tribunal the power to decide everything connected with the insolvency, and it shuts the ordinary civil courts out. This topic maps who decides what, who can hear an appeal, and how quickly.

In two minutes

For corporate persons the adjudicating authority is the National Company Law Tribunal (NCLT), appeals go to the National Company Law Appellate Tribunal (NCLAT) within 30 days and then, on a question of law, to the Supreme Court within 45 days; for individuals and partnership firms the ladder is the Debt Recovery Tribunal, the Debt Recovery Appellate Tribunal and the Supreme Court; civil courts are barred throughout.

The rest of this chapter

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