Financial debt not barred by limitation: NCLT Delhi

CFM Asset Reconstruction Private Limited Vs M.G. Finvest Private Limited (NCLT Delhi) NCLT Delhi held that ‘financial debt’ is not barred by limitation. Accordingly, application filed by the CFM Asset Reconstruction Private Limited, the Financial Creditor, u/s. 7 of the Code for initiating CIRP against M.G. Finvest Private Limited, the Corporate Debtor, stands admitted. Facts- The instant Company Petition is filed u/s. 7 of the Insolvency and Bankruptcy Code (IBC) 2016 read with rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s. CFM Asset R...