Admissibility of Section 7 application - The date of default ...

Insolvency Application Admissible Due to Post-Section 10A Default Over Rs. 1 Crore by Corporate Debtor.

December 23, 2023

Case Laws Insolvency and Bankruptcy AT

Admissibility of Section 7 application - The date of default which is mentioned in the tabular form cannot be ignored it is clear that there was default of more than Rs.1 Crore i.e. threshold period in payment of default by the Corporate Debtor after Section 10A period. - The above default is very much there even if the default is ignored on the basis of Facility Acceleration Notice dated 30th May, 2021/31st May, 2021 - even after Section 10A period there being default in payment of interest which was more than threshold amount, the Application under Section 7 deserves to be admitted - AT

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Admissibility of Section 7 application - The date of default ...

Insolvency Application Admissible Due to Post-Section 10A Default Over Rs. 1 Crore by Corporate Debtor.

December 23, 2023

Case Laws Insolvency and Bankruptcy AT

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