NCLAT Ends CIRP on Principal and Interest Payment

Bhagwandas R. Bhattad Vs R. M. Bhuther and Company Ltd (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT) passed a pivotal judgment in the case of Bhagwandas R. Bhattad Vs R. M. Bhuther and Company Ltd. The dispute revolved around a breach of consent terms, the payment of the principal amount and interest, and the continuation of the Corporate Insolvency Resolution Process (CIRP). Analysis: In the proceedings, a key development was the consent terms agreed upon by both parties on 30.06.2021, subsequently breached by the Corporate Debtor. The Financial Creditor then revived the S...