Initiation of CIRP - NCLT rejected the application - Scope of ...

Insolvency and Bankruptcy

May 25, 2023

Initiation of CIRP - NCLT rejected the application - Scope of the agreement between parties for use of office space - Unilateral Termination of agreement before the specified date - non-registered, non-stamped document - existence of debt and dispute or not - The Appellant has proved that debt claimed by the Appellant in Section 9 Application was operational debt. Further the agreement dated 17th August, 2018 was not compulsorily registrable and agreement having not been executed on Rs. 100 Stamp Paper was inconsequential, the agreement having been acted upon and the Corporate Debtor having entered into possession of the premises in pursuance of the Agreement. - NCLT directed to admit the application - AT

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Initiation of CIRP - NCLT rejected the application - Scope of ...

Insolvency and Bankruptcy

May 25, 2023

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