In case of two parallel proceedings are pending before the NCLT, one under Section 7 of the IBC, 2016 and the other under Section 241-242 of the Companies Act, 2013 (Oppression and Mismanagement), it is duty cast on the Tribunal to first decide the petition filed under Section 7 of the Code – Entegra Ltd. and Ors. Vs. Shree Maheshwar Hydel Power Corp Ltd. and Ors. – NCLAT New Delhi
August 22, 2022
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