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The NCLAT has recently ruled that the NCLT has jurisdiction and power to grant an interim relief before the initiation of insolvency proceedings in order to prevent the compromise of proceedings under the Insolvency and Bankruptcy Code, 2016. The NCLT had passed an ad-interim order restraint the Debtor Company and its Directors from alienating and creating a third-party interest on the assets of its company. Reddy and Reddy law firm is acquaint to deal with corporate matters and represent its clients in the various tribunals.

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