Viability Of Corporate Debtor Can’t Be Considered While Deciding Petition U/S 7 Of IBC Once Debt & Default Are Established: NCLAT
The Nationwide Firm Legislation Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Arun Baroka (Technical Member) has held that an utility underneath part 7 of the Insolvency and Chapter Code, 2016 can’t be rejected solely on the bottom that the company debtor is a viable entity and that initiating…