This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Settlement Agreement Breach Not Grounds for CIRP under I&B Code
Case Law Details
- Case Name
- Amrik Cranes and Infrastructure Vs Simplex Infrastructures Limited (NCLT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Amrik Cranes and Infrastructure Vs Simplex Infrastructures Limited (NCLT Kolkata)
Breach of the terms and conditions of payment in accordance with a settlement agreement does not constitute an “Operational Debt” as per the definition under Section 5 (21) of the I&B Code and accordingly that cannot be a ground to trigger CIRP against the Corporate Debtor.
The National Company Law Tribunal (NCLT) Kolkata recently deliberated on a crucial matter involving Amrik Cranes and Infrastructure (Operational Creditor) versus Simplex Infrastructures Limited (Corporate Debtor). This...
Author Info
