NCLAT Rules NCLT Cannot Revive Terminated Concession Agreement

The National Company Law Appellate Tribunal (NCLAT) ruled that the NCLT cannot order the revival of a concession agreement terminated before insolvency proceedings.
The case involved a concession for a multi-level parking project at New Delhi Railway Station, terminated by DMRC in 2017 for non-payment of dues.
The NCLAT allowed the parties to pursue conciliation or arbitration as per the original agreement, setting aside the NCLT's direction to DMRC.