Jyoti Structures: NCLAT Allows Appeal on Non-Fund Based Limits

The National Company Law Appellate Tribunal (NCLAT), New Delhi Bench, has allowed the appeal against the order passed by the National Company Law Tribunal (NCLT), Mumbai, regarding the release/disbursal of non-fund-based limits to Jyoti Structures Ltd. The NCLAT has directed that the company can request the release of these limits from the appellant banks, who must respond within one month. The company retains the right to revive its contempt application before the NCLT if dissatisfied with the banks' response.