The National Company Law Appellate Tribunal (NCLAT) has overturned a National Company Law Tribunal (NCLT) decision that rejected Culver Max Entertainment's insolvency plea against an Odisha-based fintech firm. NCLAT directed the NCLT's Cuttack bench to rehear the case, emphasizing that Culver Max should have been given an opportunity to correct defects in its application. The appellate tribunal stated the NCLT order suffered from illegality by not providing this chance, and the fresh hearing should ideally conclude within two months.