NCLAT Delhi Dismisses Plea to Revive CIRP After Corporate Debtor Clears Part IV Dues

Campbell Advertising Pvt. Ltd. Vs Vipul Ltd. (NCLAT Delhi) The National Company Law Appellate Tribunal, Delhi examined appeals filed by an Operational Creditor challenging the rejection of restoration applications seeking revival of insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code. The appeals arose from an order of the Adjudicating Authority (NCLT, New Delhi) which had earlier dismissed the Section 7 application after recording that the Corporate Debtor had paid the entire amount claimed in Part IV of the application, including principal and interest. The Adjudicat...