CIRP duly initiated u/s. 7 of the Code as provisions of section 10A doesn’t apply: NCLAT Delhi

Sandip Narendrakumar Patel Vs Svakarma Finance Pvt. Ltd. & Anr. (NCLAT Delhi)

NCLAT Delhi held that provisions of section 10A of the Insolvency and Bankruptcy Code, 2016 would not apply as the date of default occurred much prior to 25.03.2020. Accordingly, held that application filed under section 7 duly accepted.

Facts- The Appellant is the Promotor/Director of Yours Ethnic Foods Pvt. Ltd. (Corporate Debtor) has assailed the validity of the order dated 09.10.2023, passed by the National Company Law Tribunal, Ahmedabad, admitting CP (IB) No. 322/NCLT/AHM

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