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Insolvency and BankruptcyNovember 25, 2021Case LawsTri
Initiation of CIRP - The petitioner has absolute rights in the mortgaged property and cannot initiate any action under section 7 upon non-payment of dues under the debenture trust deed, the petitioner has agreed to recourse and sell the mortgaged assets and recover the money due - this Bench conclude upon non-payment dues under the debenture trust deed, there is no default and the petitioner has agreed to recourse as envisaged under registered debenture trust deed-cum-mortgage. - Tri
Initiation of CIRP - The petitioner has absolute rights in the mortgaged property and cannot initiate any action under section 7 upon non-payment of dues under the debenture trust deed, the petitioner has agreed to recourse and sell the mortgaged assets and recover the money due - this Bench conclude upon non-payment dues under the debenture trust deed, there is no default and the petitioner has agreed to recourse as envisaged under registered debenture trust deed-cum-mortgage. - Tri
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