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IBC - Highlights / Catch Notes

Home Highlights March 2024 Year 2024 This

Revival of company appeal by Financial Creditor - Order of ...

Insolvency and Bankruptcy

March 4, 2024

Revival of company appeal by Financial Creditor - Order of setting aside of CIRP - The application by Akasa Finance Ltd. cites the dishonour of 12 post-dated cheques tendered by the Corporate Debtor as grounds for the recall of the order. - The NCLAT considers the sequence of events, including the dishonour of cheques and the attempts by the Corporate Debtor to delay proceedings. It finds that the Financial Creditor has a valid reason to revive the appeal and recalls the previous order accordingly.

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