{"id":2497,"date":"2024-10-20T18:03:34","date_gmt":"2024-10-20T18:03:34","guid":{"rendered":"http:\/\/sierrascreen.com\/?p=2497"},"modified":"2024-10-27T10:10:47","modified_gmt":"2024-10-27T10:10:47","slug":"nclt-rejects-rec-plea-against-global-metal-over-default-date","status":"publish","type":"post","link":"http:\/\/sierrascreen.com\/index.php\/2024\/10\/20\/nclt-rejects-rec-plea-against-global-metal-over-default-date\/","title":{"rendered":"NCLT rejects REC plea against global metal over default date"},"content":{"rendered":"
The National Company Law Tribunal (NCLT) rejected REC Ltd’s application against Global Metal & Energy Pvt Ltd. The tribunal ruled that the company’s default occurred during the Covid-19 period, when insolvency proceedings were barred. This decision sets a precedent, highlighting that lenders cannot change the date of default by issuing fresh notices post the prohibited period. <\/p>\n","protected":false},"excerpt":{"rendered":"
The National Company Law Tribunal (NCLT) rejected REC Ltd’s application against Global Metal & Energy Pvt Ltd. The tribunal ruled that the company’s default occurred during the Covid-19 period, when<\/p>\n