Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Insolvency and BankruptcyDecember 7, 2019Case LawsAT
Appeal against the initiation of CIRP - The ‘Corporate Debtor’ contends that on the date of filing of the petition, there was no default as contemplated in Section 7 - It appears that in compliance with the order of the Adjudicating Authority dated 29th November 2018 the ‘Corporate Debtor’ filed an Affidavit along with Bank certificate. But in reply no evidence was submitted to prove that the outstanding amount is due and payable. - Insolvency proceedings directed to be closed.
Appeal against the initiation of CIRP - The ‘Corporate Debtor’ contends that on the date of filing of the petition, there was no default as contemplated in Section 7 - It appears that in compliance with the order of the Adjudicating Authority dated 29th November 2018 the ‘Corporate Debtor’ filed an Affidavit along with Bank certificate. But in reply no evidence was submitted to prove that the outstanding amount is due and payable. - Insolvency proceedings directed to be closed.
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