Section 7 application duly admitted as debt and default undisputedly established

Siddharth Satish Katariya Vs Central Bank of India (NCLAT Delhi)

NCLAT Delhi held that the core issue of any insolvency proceeding is debt and default. Accordingly, when debt and default is undisputedly established, the Adjudicating Authority did not commit any error in accepting the Section 7 application for initiation of CIRP.

Facts- The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 by the Appellant arises out of the Order dated 07.01.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-III)

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