2023 (2) TMI 1258 - SC - Insolvency and Bankruptcy

Maintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - it was held by NCLAT that The reasons given by the Adjudicating Authority while passing the impugned order is agreed upon and as the CoC has recommended for liquidation of the Company for which I.A. is pending before the Adjudicating Authority, hence this Appeal has become infructuous. HELD THAT - There are no error in the order of the National Company Law Appellate Tribunal - appeal dismissed.

Summary

The Supreme Court dismissed the appeal against the order of the National Company Law Appellate Tribunal dated 7 November 2022 in Company Appeal (AT) (Insolvency) 296 of 2022. Any pending application was disposed of.