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Home Highlights October 2023 Year 2023 This

Initiation of CIRP u/s 7 - NCLT / NCLAT admitted the application ...

Insolvency and Bankruptcy

October 20, 2023

Initiation of CIRP u/s 7 - NCLT / NCLAT admitted the application - time limitation - A request for one time settlement (OTC) was made - The NCLT treated this letter to be an acknowledgement of debt - The argument of the appellant about maintainability of the application out of which this appeal arises on the ground of the application being barred under limitation, is not satisfying. The application with respect to the two recovery certificates issued in the year 2017 is maintainable. - SC

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