NCLAT: Can’t Set Aside Liquidation Order u/s 33 IBC When 3rd Party has Taken Possession of Property  ||  NCLAT: Unless Amendment Application Filed, Authority Can’t Suo Motu Amend Date of Default  ||  Delhi HC Directs Removal of 'Kindpan' Trademark in Petition Filed by ‘Mankind’  ||  J&K HC: Limitation for Challenging Award Starts after Signed Copy is Received by Party  ||  Delhi HC: ‘High Speed’ Not Sufficient to Conclude Driver Acted in Rash and Negligent Manner  ||  Allahabad HC: Huge Difference between Executing a Particular Document and Being a Witness  ||  Kerala HC: Can’t Consider Co-Opted Members of Bar Council as Separate Class from Elected Members  ||  J&K HC: Govt. Failing to Communicate Rejection of Detenue’s Representation in Time Vitiates Order  ||  SC: Electricity Act Empowers State Commissions to Regulate Open Access Within their Respective States  ||  SC: Limitation Begins from Date of Registration of Sale Deed that Constitutes Constructive Notice    

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  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved