No error by NCLT in refusing to initiate CIRP on suspicious debt: NCLAT

Zoom Communications Pvt. Ltd Vs Par Excellence Real Estate Pvt. Ltd (NCLAT Delhi) NCLAT in the present case are considering the initiation of the CIRP, the Adjudicating Authority had sufficient reason to believe that debt itself is doubtful. No error has been committed by the Adjudicating Authority in refusing to initiate the CIRP on such suspicious debt. Thus, the order of the Adjudicating Authority refusing to initiate CIRP cannot be faulted and we affirm the said order passed by the Adjudicating Authority. DECISION OF THE NCLAT The Bench observed that when both Operational Creditor and Cor...