NCLAT: Existence of Financial Debt Essential for Initiating Proceedings under Section 7 of IBC - 11.03.2025

NCLAT New Delhi bench while dismissing a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, has stated that for initiating proceedings under Section 7 existence of financial debt and corresponding default is an essential condition.

Tags : NCLAT New Delhi Financial Debt Section 7

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