Section 3 of Judges (Protection) Act, 1985 held constitutional. Non-payment of debt, even partially,...

The National Company Law Tribunal (NCLT) Mumbai's decision to admit the insolvency application against the Corporate Debtor was upheld, confirming that partial non-payment of debt constitutes default under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition challenging this decision on grounds of forum shopping, suppression, and multiplicity of proceedings was dismissed. The petitioner was ordered to pay costs amounting to Rs. 2.5 lakh. Additionally, Section 3 of the Judges (Protection) Act, 1985 was deemed constitutional. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X