Initiation of CIRP - existence of debt and dispute or not - ...

NCLT's Section 9 CIRP Admission Overturned Due to Lack of Undisputed Debt and Incomplete Fact Consideration.

January 19, 2023

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - existence of debt and dispute or not - Operational Creditors - NCLT admitted the application - The present is not a case where there is an undisputed debt for which insolvency can be initiated against the Corporate Debtor. The Adjudicating Authority having heard the matter ex-parte has failed to appreciate the facts of the case in its entirety and therefore committed an error in admitting the Section 9 application and we therefore hold that the impugned order passed is unsustainable. - AT

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Initiation of CIRP - existence of debt and dispute or not - ...

NCLT's Section 9 CIRP Admission Overturned Due to Lack of Undisputed Debt and Incomplete Fact Consideration.

January 19, 2023

Case Laws Insolvency and Bankruptcy AT

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