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Kerela high court had stayed the order of NCLT, Kochi which said that it will not declare an insolvency plea filed after 24 March not maintainable. It will be maintainable.
The order was passed by Justice PV Asha in a writ petition.
The court issued the notice to NCLT which was accepted by assistant solicitor general P. Vijay Kumar and operational creditor, Cyriac Njavally.
NCLT further clarifying said that intention behind the notification was not to provide a complete blanket of protection of debtors.