Case Law Analysis
|National Company Law Appellate Tribunal
Section 421 Companies Act | NCLAT Has Exclusive Jurisdiction Over Condonation of Delay; Writ Courts Barred : NCLAT Chennai
NCLAT Chennai reaffirms that High Courts cannot condone delays under Section 421 of the Companies Act, 2013, as the statute vests this power exclusively with the appellate tribunal. The ruling underscores the mandatory exhaustion of statutory remedies and bars writ jurisdiction for procedural lapses, impacting corporate litigants and insolvency practitioners.