Team Blitz India
NEW DELHI: Insolvency & Bankruptcy Code (IBC) cannot be used as a “tool for recovery”, the NCLT observed on September 19 while dismissing a plea by two unit buyers of a commercial complex. The Principal Bench of the National Company Law Tribunal (NCLT) was hearing the plea for initiating insolvency against Orris Infrastructure over an alleged default of Rs 3.60 lakh.