Section 7 application under IBC admitted as debt and default proved

Punjab National Bank Vs Shriram Skill And Education Limited (NCLT Delhi) NCLT Delhi held that application under section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. Shriram Skill and Education Ltd. [Corporate Debtor] is admitted since debt and default duly proved. Accordingly, present appeal is allowed. Facts- This application has been filed by Mr. Pawan Singh Yadav, Chief Manager of Punjab National Bank, the Financial Creditor herein under Section 7 of the Insolvency and Bankruptcy Code, 2016 seeking initiation of CIRP against M/s. Shriram Skill and Education Ltd., the Corporat...