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NCLAT: Existence of Financial Debt Essential for Initiating Proceedings under Section 7 of IBC - (11 Mar 2025)

INSOLVENCY

NCLAT New Delhi bench while dismissing a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, has stated that for initiating proceedings under Section 7 existence of financial debt and corresponding default is an essential condition.

Tags : NCLAT NEW DELHI   FINANCIAL DEBT   SECTION 7  

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