Legal8 May 2026, 03:24 pm
Prime Focus: NCLAT Stays NCLT Order in CIRP Appeal 850/2026
AI Summary
The National Company Law Appellate Tribunal (NCLAT) heard the appeal filed by Prime Focus Ltd against the admission of a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The NCLAT has directed the Interim Resolution Professional (IRP) to refrain from taking further steps based on the NCLT order, pending the next hearing scheduled for May 11, 2026.
Key Highlights
- NCLAT hears Prime Focus' appeal against CIRP admission.
- IRP directed to halt actions based on NCLT order.
- Next hearing scheduled for May 11, 2026.
- Appeal filed in Comp. App. (AT) (Ins.) 850 of 2026.