Initiation of proceedings u/s 7 against Corporate Debtor justified as debt and default admitted

Mayur Suchak Vs Catalyst Trusteeship Limited (NCLAT Delhi) NCLAT Delhi held that initiation of proceeding against the Corporate Debtor u/s 7 justifiable as debt and default duly admitted by the Corporate Debtor. Facts- This Appeal has been filed by the Promoter of the Corporate Debtor – M/s Renaissance Indus Infra Pvt. Ltd. challenging the order dated 31.03.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Court No. V admitting Section 7 application filed by the Financial Creditor – Catalyst Trusteeship Ltd. The Appellant, aggrieved by the order, has ...