Elaborate the adjudication of the application for initiation of insolvency resolution process ?

Ans: Adjudication of the application for initiation of insolvency resolution process: 

Adjudication of the application for initiation of insolvency resolution process Once an application for initiation of insolvency process is filed, whether under Section 7,9 or 10 of the Code, the onus falls upon the relevant National Company Law Tribunal (NCLT) having jurisdiction to examine and adjudicate over the maintainability and merit of the application. The NCLTs are referred to as the Adjudicating Authority under the IBC. It is the duty of the NCLTS to comply with, and ensure compliance with the principles of natural justice, as affirmed by the Hon'ble High Court of Calcutta in Sree Metaliks Limited and Anr. vs. Union of India, whereby the Hon'ble Court stated that the principles governing the NCLTS come from the Companies Act, 2013, under which the NCLTS were constituted.

Section 424 of the Companies Act, 2013 mandates compliance with the principles of natural justice, and such duty of the NCLTS is also extended to their adjudication over the cases under IBC.

दिवाला समाधान प्रक्रिया शुरू करने के लिए आवेदन का निर्णय एक बार दिवाला प्रक्रिया शुरू करने के लिए आवेदन दायर किया जाता है, चाहे वह संहिता की धारा 7,9 या 10 के तहत हो, जिम्मेदारी संबंधित राष्ट्रीय कंपनी कानून न्यायाधिकरण (एनसीएलटी) पर आती है।

 आवेदन की रखरखाव और योग्यता पर जांच करने और निर्णय लेने का अधिकार क्षेत्र होना।  एनसीएलटी को आईबीसी के तहत निर्णायक प्राधिकरण के रूप में जाना जाता है।  यह एनसीएलटीएस का कर्तव्य है कि वह प्राकृतिक न्याय के सिद्धांतों का अनुपालन और अनुपालन सुनिश्चित करे, जैसा कि श्री मेटालिक्स लिमिटेड और अन्य मामले में माननीय कलकत्ता उच्च न्यायालय द्वारा पुष्टि की गई है।  बनाम भारत संघ, जिसके तहत माननीय न्यायालय ने कहा कि एनसीएलटीएस को नियंत्रित करने वाले सिद्धांत कंपनी अधिनियम, 2013 से आते हैं, जिसके तहत एनसीएलटीएस का गठन किया गया था।


कंपनी अधिनियम, 2013 की धारा 424 प्राकृतिक न्याय के सिद्धांतों का अनुपालन अनिवार्य करती है, और एनसीएलटीएस का ऐसा कर्तव्य आईबीसी के तहत मामलों पर उनके निर्णय तक भी बढ़ाया गया है।

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