The National Company Law Appellate Tribunal (NCLAT) on Tuesday concluded hearing and reserved its order on the petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process.
Senior advocate Mukul Rohatgi, representing Torrent Investments, concluded his arguments and submitted that the Insolvency & Bankruptcy Code (IBC) intends for maximisation of the value, but the focus should be on the revival of the assets and conclude the process under a time-bound manner.
Rohatgi contended that IBC is not a debt recovery platform and that the Committee of Creditors should look beyond their individual recovery.
"Mukul Rohtagi, senior counsel for respondent No 1 (Torrent), has advanced his additional submission to which rejoinder has also been addressed. Hearing completed. Judgement is reserved," said the NCLAT order.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances
