NCLAT Upholds Dismissal of CIRP petition despite opposition by Financial Creditor as Corporate Debtor Willing to Pay Full Amount

Reliance Commercial Finance Limited Vs Darode Jog Builder Private Limited (NCLAT Delhi) In the facts of the present case, the Adjudicating Authority has only given an opportunity to the Corporate Debtor to deposit the entire defaulted amount for which Section 7 Application was filed, within 45 days with liberty reserve to the Financial Creditor to revive the Section 7 Application in event the amount is not deposited. In event, in consequence of the Order of the Adjudicating Authority, the Corporate Debtor deposits the entire defaulted amount whether still the Adjudicating Authority was require...