CIRP application u/s. 7 of IBC by security trustee after valid authorisation is duly admissible

Deepak Raheja & Anr. Vs IDBI Trusteeship Services Ltd. & Anr. (NCLAT Delhi) NCLAT Delhi held that application under section 7 of the Insolvency and Bankruptcy Code [IBC] filed by the security Trustee is duly admissible since application was filed after obtaining valid authorisation from the lender. Accordingly, appeal dismissed. Facts- This Appeal has been filed by the Suspended Director of the Corporate Debtor (“CD”) – Advantage Raheja Hotels Private Limited challenging the order dated 17.12.2024 passed by National Company Law Tribunal, Mumbai Bench, Court-II admitting Secti...