Officer Authorised to Grant Loan Can File Section 7 IBC Application: NCLT Mumbai

Avendus Finance Private Limited Vs Acute Retail Infra Private Limited (NCLT Mumbai) An Officer Authorised To Grant Loan Is Also Authorised To File Application Under Section 7 of  IBC, 2016: NCLT Mumbai NCLT Mumbai admitted Avendus Finance Pvt. Ltd.’s petition under Section 7 of the IBC against Acute Retail Infra Pvt. Ltd. for default on a ₹65.13 crore financial debt arising from a 2018 facility agreement, later amended in 2019 and 2020 as part of an RBI-approved one-time restructuring. Avendus, part of a lender consortium, had advanced ₹66 crore secured by hypothecation deeds, share ple...