The Insolvency and Bankruptcy Code is slowly evolving and coming of age through hundreds of petitions being instituted in various Benches of the National Company Law Tribunal (NCLT). When the stakes involved are of thousands of crores of rupees, the competition among stakeholders becomes intense; few crores get spend on lawyers fees, every single day.
The high-stake litigants are almost airlifting Senior Counsel of the Supreme Court in chartered flights and choppers to reach different Benches of NCLT. The intense litigation going on in NCLT, Ahmedabad Bench, between Essar Steel and Arcelor Mittal led almost all senior lawyers in the country to Ahmedabad. Mr. Mukul Rohatgi, former Attorney General, who was held up in Supreme Court till 12 …
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