NCLT cannot straight away direct probe into affairs of Corporate Debtor by SFIO, NCLAT

NCLT cannot straight away direct probe into affairs of Corporate Debtor by SFIO, NCLAT

The NCLAT has held that the Adjudicating Authority under the Insolvency and Bankruptcy Code,2016 (IBC) i.e. National Company Law Tribunal has no power to straightaway order an investigation to be conducted into the affairs of a Corporate Debtor by the Serious Fraud Investigation Office (SFIO) in terms of 213 of the Companies Act, 2013.

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