Self CIRP application u/s. 10 of IBC admitted as Corporate Applicant is in default of debt due

In re Asis Corporate Advisors Limited (NCLT Mumbai) NCLT Mumbai held that application u/s. 10 of Insolvency and Bankruptcy Code seeking own Corporate Insolvency Resolution Process [CIRP] is admitted as the Corporate Applicant is in default of a debt due. Accordingly, writ petition allowed. Facts- This Company Petition is filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 by Asis Corporate Advisors Limited (Corporate Applicant), seeking to initiate its own Corporate Insolvency Resolution Process. The said application is being preferred by the Corporate Applicant owing to finan...