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IBC - Highlights / Catch Notes

Home Highlights December 2023 Year 2023 This

Initiation of CIRP - Insurance Company has made payment to the ...

Insolvency and Bankruptcy

December 16, 2023

Initiation of CIRP - Insurance Company has made payment to the Operational Creditor of its claim - third party liability - Liability of Corporate debtor to discharge its debt - Section 9 Application is fully maintainable and the fact that Insurance Company has made payment to the Operational Creditor of its claim, cannot be a ground to reject Section 9 Application. The Corporate Debtor is still liable to discharge its liability of debt. - AT

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