https://www.taxtmi.com/caselaws?id=350961 The NCLT rejected an application under Section 9 of the Insolvency and Bankruptcy Code due to technical deficiencies, specifically the absence of a required certificate from the financial institution confirming the unpaid operational debt by the corporate debtor. Despite granting time to rectify the defect, the applicant failed to provide the necessary certificate within the stipulated period. The NCLT emphasized the mandatory nature of this certificate requirement and highlighted the importance of timely rectification of defects, citing potential rejection of incomplete applications. en-us Wed, 11 Oct 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350961 The NCLT rejected an application under Section 9 of the Insolvency and Bankruptcy Code due to technical deficiencies, specifically the absence of a required certificate from the financial institution confirming the unpaid operational debt by the corporate debtor. Despite granting time to rectify the defect, the applicant failed to provide the necessary certificate within the stipulated period. The NCLT emphasized the mandatory nature of this certificate requirement and highlighted the importance of timely rectification of defects, citing potential rejection of incomplete applications. Case-Laws Insolvency and Bankruptcy Wed, 11 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350961