Case Law Details
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 (‘hereinafter referred to as the Code’) against the impugned order dated 30.09.2019 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Kolkata), whereby the Adjudicating Authority has rejected the Application filed under Section 9 of the Code on the following grounds:-
Please become a Premium member. If you are already a Premium member, login here to access the full content.
