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IBC - Highlights / Catch Notes

Home Highlights March 2022 Year 2022 This

Maintainability of application - initiation of CIRP - From the ...

Insolvency and Bankruptcy

March 16, 2022

Maintainability of application - initiation of CIRP - From the invoices which are on the record, it is clear that invoices were issued to the FCIPL and invoices were not directly issued to the Corporate Debtor. The invoices were issued to the FCIPL only for the purpose of due certification by FCIPL and EIL, so that the Corporate Debtor may make the payment. In facts of the case, the Adjudicating Authority has not committed any error in rejecting the Section 9 Application filed by the Operational Creditor. - AT

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