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Home Highlights May 2020 Year 2020 This

Maintainability of application - initiation of CIRP - Corporate ...

Insolvency and Bankruptcy

May 1, 2020

Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - Whether the debt is beyond 3 years from the date of declaration of the amount of corporate debt as NPA in 2013. -In our considered view, such plea stands on no legs for the simple reason that the default which has been shown in the balance sheet of financial year-ended 31-3-2018 is not running from March 2013 or earlier.

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