NCLT JUDGEMENT ON SECTION 3(11), 3(12), 3(6), 4, 5(7), 5(8), 5(21), 7, 7(1), 7(2), 7(5), 7(5)(A), 9, 10, 14, 14(2), 14(3), 15, 17, 18, 31(1), 33, 238 OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016 AND RULE 4, 4(3) OF THE INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016
NAME MOBILE NO. E-MAIL I’D RANJEET KUMAR 8383098478 , 9667769795 rk@courtkutchehry.com JAI THAKUR 8130703334 , 9355723300 jai.thakur@courtkutchehry.com RAJEEV RANJAN 9334553249 rajiv.ranjan@courtkutchehry.com ASHOK MISHRA 9718327746 sales@courtkutchehry.com RAVI KUMAR ravi.singh@courtkutchehry.com Power Finance Corporation Limited Vs. South East U.P. Power Transmission Company Limited, (2020) 07 NCLT CK 0087 NCLT allowed the petition filed by the petitioner, under Section 7 of the Insolvency & Bankruptcy Code, 2016, (hereinafter referred to as the "Code"), praying for initiation of Corporate Insolvency Resolution Process of the Corporate debtor on grounds of its inability to liquidate its financial debt. While allowing the petition NCLT held that this Adjudicating Authority finds that as the corporate debtor was under obligation to pay the interest and principal amount in terms of Facility Agreement i...