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Insolvency and BankruptcyNovember 16, 2023Case LawsAT
Initiation of CIRP - NCLT rejected the Section 7 Application - There being no material brought on the record to indicate that the amount of Rs.2.6 Crore was advanced by the Appellant in pursuance of any offer of private placement invited by the company. - When the amount advanced cannot be related to Section 42, the applicability of Section 42(6) cannot be pressed - AT
Initiation of CIRP - NCLT rejected the Section 7 Application - There being no material brought on the record to indicate that the amount of Rs.2.6 Crore was advanced by the Appellant in pursuance of any offer of private placement invited by the company. - When the amount advanced cannot be related to Section 42, the applicability of Section 42(6) cannot be pressed - AT
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