2024 (4) TMI 1042 - SCH - Insolvency and Bankruptcy

Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Debt or not - Civil Suit for specific performance - non-allotment of 39100 sq. ft. built-up area of land or not - default in terms of Section 3(12) of the I B Code, 2016 - it was held by NCLAT that There is no financial debt in favour of the Appellant. It is pertinent to mention that Appellant's pleading is that the amounts have been paid by the Appellant to the Respondent and the consent decree itself is the debt for which Section 7 Application has been filed - HELD THAT - There are no good ground and reason to interfere with the impugned judgment and hence, the present appeal is dismissed.

Summary

The Supreme Court dismissed the appeal, stating no good ground to interfere with the impugned judgment related to the Insolvency and Bankruptcy Code, 2016. Delay was condoned, and pending applications were disposed of.