Second Petition u/s 7 of IBC maintainable if CD Defaulted in Settlement Agreement pending Section 7 Petition: NCLAT [Read Order]

No bar in fling second petition under Section 7 of IBC if CD defaulted in settlement agreement during the pending of Section 7 petition, rules NCLAT
By Kalyani B. Nair - On June 7, 2024 10:46 am - 2 mins read
NCLAT - National company law appellate - tribunal national companies - company law CD - TAXSCAN

The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) held that the no bar in fling the second petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 ( IBC) if the corporate debtor ( CD ) defaulted in settlement agreement pending Section 7 petition. The appeal was filed…

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