Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2019 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (10) TMI 372 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - time limitation - impugned order has been assailed on the grounds that claim in the application filed by the Financial Creditor was grossly exaggerated and barred by limitation - HELD THAT:- Admittedly, the debt in respect of default allegedly exceeded the prescribed amount of Rupees One Lakh. Admission of a claim pursuant to collation and verification of claims by the Resolution Professional is a matter to be dealt with when the Corporate Insolvency Resolution Process is underway. Same is irrelevant at the stage of admission of application under Section 7 of the I&B Code. The challenge on this score is also without substance. The impugned order does not suffer from any legal infirmity - Appeal dismissed.
|