Initiation of CIRP - since the affidavit not having been ...

Insolvency and Bankruptcy

May 6, 2021

Initiation of CIRP - since the affidavit not having been notarized is only a procedural irregularity and it is a curable defect. This irregularity can be rectified by the Applicant at any point of time. It is also pertinent to note here that the proviso to Section 7(5) of IBC, 2016 states that this Adjudicating Authority before rejecting the application under sub-clause (b) of sub-section (5) of Section 7 of IBC, 2016 shall give a notice to the Applicant to rectify the defect in the application - Tri

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Initiation of CIRP - since the affidavit not having been ...

Insolvency and Bankruptcy

May 6, 2021

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