NCLAT Allows CIRP Admission as default established through NeSL

Fabtech Technologies International Ltd Vs Buildmighty Techno Pvt. Ltd (NCLAT Delhi)

National Company Law Appellate Tribunal (NCLAT) in Delhi has overturned an order by the National Company Law Tribunal (NCLT) that dismissed a Section 7 insolvency application filed by Fabtech Technologies International Ltd. against its subsidiary, Buildmighty Techno Pvt. Ltd. The NCLAT ruled that the debt and default were sufficiently established, including through records from the National E-Governance Services Ltd. (NeSL) and an admission by the Corporate Debtor’s representative.

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