Bankers Certificate not Mandatory to Trigger CIRP under Section 9 of IBC

Quippo Infrastructure Limited Vs M.R. Nirman Private Limited (NCLAT Delhi) IBC, 2016 requires that the creditor can only trigger the IRP on clear evidence of default. Nowhere does the report state that such clear evidence can only be in the shape of Bankers certificate, referred to in Section 9(3)(c), as a condition precedent to triggering the Code. NCLAT held that Banker’s Certificate is not mandatorily required to trigger CIRP under Section 9 of IBC, 2016 (Code). FULL TEXT OF THE NCLAT JUDGMENT/ORDER This Appeal is preferred under Section 61(1) of the Insolvency and Bankruptcy Code, 2016 (...