The National Company Law Tribunal (“NCLT”), New Delhi Bench, comprising of Shri Ashok Kumar Bhardwaj (Judicial Member) and Shri L.N. Gupta (Technical Member), while adjudicating a petition filed in VMS Equipment v Primrose Infratech Private Limited, has held that there is no inconsistency between IBC and Sections 13 and 13A of the UP Industrial Area Development Act, 1976. If...
