NCLAT to hear McLeod appeal on NCLT order

KOLKATA: The National Company Law Appellate Tribunal (NCLAT) has admitted the appeal of McLeod Russel chairman Aditya Khaitan that challenged the order of the National Company Law Tribunal (NCLT) for starting a corporate insolvency resolution process for the company. However, NCLAT has not stayed the NCLT order for now, but asked the respondent Techno Electric & Engineering to file a reply on Khaitan’s appeal. The next hearing is on September 8.

Appearing for Techno Electric, senior advocate Kapil Sibal opposed the admission as well as stay application. Abhishek Manu Singhvi had appeared on behalf of the Khaitans.