This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Raising interest in insolvency petition without prior intimation to corporate debtor untenable
Case Law Details
- Case Name
- Janus GBAC Limited Vs Beloorbayir Biotech Limited (NCLT Bengaluru)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Janus GBAC Limited Vs Beloorbayir Biotech Limited (NCLT Bengaluru)
NCLT Bengaluru held that interest cannot be raised unilaterally in the Insolvency petition, without prior intimation to Corporate Debtor. Accordingly, petition dismissed as alleged amount not sufficient enough to maintain petition u/s. 4 of the Insolvency and Bankruptcy Code.
Facts- The present Company petition is filed on 27/07/2023, under section 9 of the Insolvency and Bankruptcy Code, 2016, r/w. Rule 6 of the I&B (Application to Adjudicating Authority) Rules 2016, by JANUS GBAC LIMITED. (Operational Creditor/Petitioner)...
Author Info
