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Supreme Court: NCLAT Cannot Use its ‘Inherent Powers’ to Subvert Legal Provisions - (25 Oct 2024)

INSOLVENCY

SC has held that 'inherent powers' cannot be used to subvert legal provisions, which exhaustively provide for a procedure. To permit the NCLAT to circumvent this detailed procedure by invoking its inherent powers under Rule 11 would run contrary to the carefully crafted procedure for withdrawal.

Tags : SUPREME COURT   LEGAL PROVISIONS   INHERENT POWERS  

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