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NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings - (19 May 2025)

INSOLVENCY

NCLAT New Delhi bench has held that an individual member is not precluded from independently initiating insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 even if majority of consortium lenders are considering debt restructuring with the Corporate Debtor.

Tags : NCLAT NEW DELHI   SECTION 7   CONSORTIUM LENDERS   CORPORATE DEBTOR  

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