SC: NCLT Has to Admit Section 7 Petition if Debt is Due - 15.05.2023

Supreme Court while observing that even non¬-payment of a part of debt when it becomes due and payable will amount to default on part of a Corporate Debtor? has held that in such a case, an order of admission under Section 7 of Insolvency and Bankruptcy Code must follow.

Tags : Supreme Court Corporate Debtor Insolvency and Bankruptcy Code

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