Allahabad High Court : Deceased Farmer’s Odd Jobs Don’t Bar Family from Scheme Benefits  ||  Secured Creditors' Dues Take Priority Over Govt Claims: Allahabad HC on SARFAESI & RDB Acts  ||  Daughter Can’t Claim Mitakshara Father’s Property if He Died Pre-1956 & Son Survives: HC  ||  Gujarat High Court: Sessions Court Can’t Suspend Sentence Just to Allow Revision Filing  ||  Delhi High Court: Non-Combat Security Roles Crucial; Minor Lapse Risks National Safety  ||  Punjab & Haryana HC: Allegation of Harassment Alone Insufficient to Prove Abetment to Suicide  ||  Orissa HC: Directors Liable under S.138 NI Act Despite Company’s Insolvency  ||  Bombay HC: GST Return Details of Company Exempt from Disclosure under RTI Act  ||  Chhattisgarh HC: Timely Appointment of Electronic Evidence Examiners Vital in Cyber Crime Probes  ||  Bombay HC: GST Return Details of Company Exempt from Disclosure under RTI Act    

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