NCLT Judgement on Section 3(11), 3(12), 5(21), 9, 9(2), 13, 14, 14(1), 15, 18, 31, 31(1), 33 of the Insolvency and Bankruptcy Code, 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 Kumar Brothers Pharma Pvt. Ltd. Vs. Vascular Therapeutics India Pvt. Ltd., (2020) 08 NCLT CK 0009 NCLT admitted the application filed by the Operational Creditor/Petitioner, under Section 9 of Insolvency & Bankruptcy Code, 2016 (Code) against the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). While allowing the application NCLT held that this Bench has no doubt that the amount payable by the Corporate Debtor is a liability which is due from the Corporate Debtor and qualifies as Operational Debt both in terms of Section 3(11) and Section 5(21) of the IBC, 2016. This Bench also...