Maintainability of application - initiation of CIRP - Whether ...

CIRP Application Dismissed: Disputed MOU Validity Requires Investigation, No Debtor-Creditor Relationship Found u/s 9.

June 19, 2021

Case Laws Insolvency and Bankruptcy AT

Maintainability of application - initiation of CIRP - Whether the MOU dated 20 May 2016 is valid or not is a disputed question and needs further investigation. Such disputed question cannot be decided under the summary jurisdiction exercised by the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016. There is no debtor-creditor relationship between the Operational Creditor 'SPJV' and the Corporate Debtor 'GIPL'. Therefore, the Petition filed U/S Sec 9 is not maintainable. - AT

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Maintainability of application - initiation of CIRP - Whether ...

CIRP Application Dismissed: Disputed MOU Validity Requires Investigation, No Debtor-Creditor Relationship Found u/s 9.

June 19, 2021

Case Laws Insolvency and Bankruptcy AT

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