Default during Section 10A Period cannot be clubbed to Meet Threshold Requirement under IBC, 2016

Plus Corporate Ventures Pvt. Ltd Vs Transnational Growth Fund Ltd (NCLAT Delhi) NCLAT held that When we look into the proviso to Section 10A, the expression is ‘provided that no Application shall ever be filed for initiation of CIRP of a Corporate Debtor for the said default occurring during the said period’ thus default which has been committed from 16.09.2020 to 28.02.2021, no Application could have ever been filed. The Appellant’s submission that cumulatively application can be filed taking all amounts, cannot be accepted. The said submission goes contrary to the statutory sch...