Requirement of Satisfying Minimum Threshold will be Applicable to any Amount Raised from Allottee: NCLT [Read Order]

NCLT rules that the requirement of satisfying the minimum threshold will be applicable to any amount raised from allottee
By Kalyani B. Nair - On March 27, 2024 1:53 pm - 2 mins read
NCLT - Minimum Threshold Compliance - Allottee Amount Requirement - NCLT Guidelines - taxscan

The Chandigarh Bench of the National Company Law Tribunal ( NCLT ) observed that the requirement of satisfying the minimum threshold will be applicable to any amount raised from allottee. The present petition has been filed by Mr.Tek Chand Narula, ( “Applicant/Financial Creditor” ) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking…

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