Corporate Debtor incorporated outside India can file CIRP Application

Excel Metal Processors Ltd. Vs. Benteler Trading International GMBH (NCLAT Delhi) BRIEF FACTS: The Respondent , a German Company (Operational Creditor) filed application under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Indian Company, M/s. Excel Metal Processors Ltd., alleging that the “ Corporate Debtor” has committed default in making payment to an extent of US$1,258,2019.42 inclusive of interest @15% p.a. The Adjudicating Authority has admitted the application. The Appellant has challenged above application . SECTION 2(10) OF IBC,2016 – “creditor” means any pe...