Initiation of CIRP - Since Adjudicating Authority has not relied ...

Insolvency and Bankruptcy

December 25, 2023

Initiation of CIRP - Since Adjudicating Authority has not relied upon the “confirmation and undertaking” and has come to a conclusion that there is a debt and default and demand notice, which is not disputed and accordingly concluded that sufficient reasons exists for CIRP proceedings under Section 7 of IBC, 2016 - non-stamping of document does not render the corporate insolvency resolution process (CIRP) application filed to be non-maintainable when there exists other material on record to prove existence of default in the payment of debt. - AT

View Source

← Previous Next →

Initiation of CIRP - Since Adjudicating Authority has not relied ...

Insolvency and Bankruptcy

December 25, 2023

You may also like:

Initiation of CIRP - since the I&B Code is not a complete Code, provisions of Limitation Act are attracted to proceedings under it before NCLT and NCLAT as far as...

Initiation of CIRP - NCLT rejected the application - Financial Creditors - non-disbursement of part of financial assistance sanctioned by the Financial Creditors -...

Initiation of insolvency resolution of a personal guarantor of the Corporate debtors - The law doesn't envisage that the insolvency resolution of the personal guarantor...

Fraudulent initiation of insolvency proceedings by the Operational Creditor in collusion with the Corporate Debtor - When the date of default given by Operational...

CIRP admitted - locus of shareholder of the Corporate Debtor - prima-facie there is no specific law which allows any shareholder of the Corporate Debtor to challenge the...

Maintainability of application - initiation of CIRP - While a written contract cannot be treated as a pre-requisite to proving the existence of financial debt, the...

Initiation of CIRP - Financial Creditors - There is no denial of transfer of the amount by Bank transfer in the account of the Corporate Debtor. When disbursement of the...

Refusal to stay the proceedings initiated by the Respondent, Axis Bank Limited against the Appellant - The title “Insolvency and Bankruptcy Code” makes it amply clear...

Initiation of CIRP - sub-sequent application was maintainable, as we find that financial debt is payable to the appellants, particularly the second appellant as there is...

Admission of section 7 application - initiation of CIRP against the Corporate Debtor - existence of debt and default or not - When the Financial Creditor had repeatedly...

Quick Updates: