Application for Insolvency Proceedings against Corporate Debtor for Financial Debt and Default: NCLT admits Application [Read Order]

The NCLT admitted the petition filed by the Financial Creditors and initiated CIRP against the Corporate Debtor
Insolvency proceedings - Financial Debt - NCLT - Corporate Debtor - taxscan

In a recent case, the National Company Law Tribunal ( NCLT ) admitted the has application for insolvency proceedings against a corporate debtor for financial debt and default. The Tribunal initiated insolvency proceedings Corporate debtor noting that it failed to deliver possession of the residential units within the stipulated time frame. Mr Manish Aneja, a…

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