NCLAT Upholds Eviction Of Subsidiaries From Corporate Debtor's Properties During Liquidation

The National Company Law Appellate Tribunal (NCLAT) at Delhi has upheld the NCLT Ahmedabad's order directing eviction of two subsidiaries from premises owned by a corporate debtor. The court held that the NCLT can exercise jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (which gives the insolvency court power to decide questions of law or fact arising out of or connected with insolvency or liquidation) to recover possession and rent during liquidation when the underlying...