NCLAT Sets Aside IBC Order Passed By Judicial Member Alone In A Case Heard By DB

The NCLAT has set aside insolvency proceedings initiated against Ambience Pvt. Ltd by 'Vistra ITCL(India) Ltd.' on the ground that the matter was heard by a Division Bench of the NCLT Delhi, comprising of R. Vardharajan (Member Judicial) and Ms. Deepa Krishan (Member Technical) but the order was passed by a single bench comprising of only the judicial member. The application...