NCLAT says Interested Third Parties Must Be Heard Before CIRP Admission

Shri Sant Eknath Co-operative Sugar Factory was not a party to the Section 7 proceedings against Sachin Ghayal Sugar, butclaimed that its sugar factory and assets could be affected by the proposed CIRP. NCLAT held that its pending Section 60(5) application alleging collusion and seeking intervention ought to have been decided before the Section 7 petition was finally determined.