Initiation of CIRP - NCLT rejected the application u/s 7 - The ...

NCLT Denies Insolvency Application Under IBC Section 7 Despite Debtor's Acknowledgment; Appellate Authority Orders Reconsideration.

September 29, 2023

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - NCLT rejected the application u/s 7 - The Corporate Debtor had accepted before the AA that it is not in a position to repay `debt’ because of financial distress. The AA ought to have admitted the Application of the Appellant u/s 7 of the IBC, 2016 as there is no dispute about the `debt’ or liability of the Corporate Debtor - Matter restored back - AT

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Initiation of CIRP - NCLT rejected the application u/s 7 - The ...

NCLT Denies Insolvency Application Under IBC Section 7 Despite Debtor's Acknowledgment; Appellate Authority Orders Reconsideration.

September 29, 2023

Case Laws Insolvency and Bankruptcy AT

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