2024 (2) TMI 509 - SCH - Insolvency and Bankruptcy

Maintainability of section 9 application - initiation of CIRP - It was held by NCLAT that The present was a case filed by the Operational Creditor only for recovery of its contractual dues with regard to default committed as per the case of the Appellant on 30.04.2015 for stage 1 and 23.10.2018 for stage 2. The Adjudicating Authority did not commit any error in rejecting Section 9 application as barred by time - HELD THAT - There are no reason to interfere with the order of the National Company Law Appellate Tribunal - appeal dismissed.

Summary

The Supreme Court dismissed the appeal and upheld the order of the National Company Law Appellate Tribunal dated 20 October 2023 in Company Appeal (AT)(Insolvency) No 1106 of 2023. Any pending application was disposed of.