CIRP application rejected as alleged default falls under the purview of section 10A of IBC, 2016

Nanz Med Science Pharma Private Limited Vs Elder Projects Limited (NCLT) NCLT Mumbai held that as date of default is beyond 25th March 2020, the default as alleged by Operational Creditor falls under the purview of Section 10A of the IBC, 2016 and hence application seeking initiation of CIRP rejected. Facts- The present Company Petition is filed by Manmit Singh Malhotra, the director of Nanz Med Science Pharma Private Limited, on behalf of Nanz Med Science Pharma Private Limited (“Operational Creditor”) u/s. 9 of the Insolvency and Bankruptcy Code, 2016 r/w Rule 6 of the Insolvency and Ban...