{"id":375109,"date":"2020-09-25T08:39:36","date_gmt":"2020-09-25T03:09:36","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=375109"},"modified":"2020-09-25T09:10:46","modified_gmt":"2020-09-25T03:40:46","slug":"nclat-sets-aside-nclt-order-rejecting-insolvency-plea-against-coastal-oil","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nclat-sets-aside-nclt-order-rejecting-insolvency-plea-against-coastal-oil\/","title":{"rendered":"NCLAT sets aside NCLT order rejecting insolvency plea against Coastal Oil"},"content":{"rendered":"<p>The National Company Law Appellate Tribunal (NCLAT) has set aside the NCLT order rejecting the insolvency plea filed against Andhra Pradesh-based Coastal Oil Gas Infrastructure on the grounds of delay in filing. <\/p>\n<p>A three-member NCLAT bench has now directed the Hyderabad bench of the National Company Law Tribunal (NCLT) to admit the plea filed by the financial creditors &#8212; Bank of India and Central Bank of India &#8212; and decide it &#8220;expeditiously&#8221; within one month. <\/p>\n<p>The NCLAT held that the NCLT had &#8220;wrongly considered&#8221; the date of default as March 16, 2015 for computation of limitation period to file an application before it and rejected the insolvency plea filed by the financial creditors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Company Law Appellate Tribunal (NCLAT) has set aside the NCLT order rejecting the insolvency plea filed against Andhra Pradesh-based Coastal Oil Gas Infrastructure on the grounds of delay in filing. A three-member NCLAT bench has now directed the Hyderabad bench of the National Company Law Tribunal (NCLT) to admit the plea filed by the financial creditors &#8212; Bank of India and Central Bank of India &#8212; and decide it &#8220;expeditiously&#8221; within one month. The NCLAT held that the NCLT had &#8220;wrongly considered&#8221; the date of default as March 16, 2015 for computation of limitation period to file an [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-375109","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=375109"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375109\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=375109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=375109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=375109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}