Financial creditor entitled to file application u/s. 7 of IBC even after breach of settlement agreement

Bahadur Ram Mallah Vs Assets Reconstruction Company (India) Limited (NCLAT Delhi) NCLAT Delhi held that financial creditor entitled to file an application under section 7 of the Insolvency and Bankruptcy Code even after breach of settlement agreement since nature of debt doesn’t change. Thus, order admitting section 7 application sustained. Facts- The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 by the Appellant arises out of the Order dated 14.11.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench-I). By the impugned order...