NCLAT says insolvency cannot come at the cost of Natural Justice

Hannu Steels missed the deadline to file its reply in a Section 9 proceeding after its counsel failed to act. 

The NCLT closed its right to reply. 

NCLAT found that the company had not abandoned the proceedings, acted promptly once it became aware of the order and had a prima facie substantive defence. It therefore restored one final opportunity, emphasising that expeditious insolvency adjudication must operate consistently with natural justice.