S.C. Sekaran v. Amit Gupta & Ors., [Company Appeal (AT) (Insolvency) No. 495 and 496 of 2018]

In the case of S.C. Sekaran v. Amit Gupta & Ors., [Company Appeal (AT) (Insolvency) No. 495 and 496 of 2018], Hon'ble National Company Law Tribunal (NCLAT), giving regard to the rules of Section 230 of the Companies Act, 2013, read with the judgement of the Hon'ble Supreme Court in the case of Meghal Homes Pvt. Ltd. v. Shree Niwas Girni K.K. Samiti & Ors.; 7 SCC 753 and Swiss Ribbons Pvt. Ltd. v. Union of India & Ors.; (2019) SCC OnLine SC 73 instructed the Liquidator to act in compliance with the statute, likely enabling the development of the Achilles heel in Section 29A of the Code. 

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