Supreme Court’s Note Of Caution To NCLT And NCLAT: No Equitable Jurisdiction To Direct Parties To Settle While Deciding Applications Under Insolvency And Bankruptcy Code 2016

Introduction The Supreme Court has in ES Krishnamurthy v. M/S Bharath Hi Tech Builders Pvt Ltd. (“ES Krishnamurthy”) held that the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) cannot act as courts of equity by…