CIRP Under Section 9 Unjustified If Entire Debt Has Been Discharged: NCLAT Delhi

Pankaj Kalra Vs Greeka Greens Solution (India) Limited (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT), Delhi, has set aside the Corporate Insolvency Resolution Process (CIRP) initiated against Essar Oil & Gas Exploration & Production Limited. The appeal was filed by the Suspended Director of the corporate debtor, challenging the NCLT Ahmedabad’s order dated September 6, 2024, which admitted a Section 9 application filed by Greeka Greens Solution (India) Limited. The NCLAT had already suspended the impugned order through an interim order on September 10, 2024, and l...