https://www.taxtmi.com/caselaws?id=351830 The National Company Law Tribunal (NCLT) dismissed the petition filed by Lease Plan India Private Ltd. (Operational Creditor) against the Corporate Debtor due to non-compliance with mandatory provisions of the Insolvency and Bankruptcy Code, 2016. The notice issued under Section 8 of the IBC was found invalid, lacking adherence to prescribed rules and principles of natural justice. Additionally, the Applicant failed to comply with Section 9(3)(c) requirements, rendering the application non-maintainable. The NCLT allowed the Petitioner to explore alternative remedies despite dismissing the petition. en-us Tue, 17 Oct 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351830 The National Company Law Tribunal (NCLT) dismissed the petition filed by Lease Plan India Private Ltd. (Operational Creditor) against the Corporate Debtor due to non-compliance with mandatory provisions of the Insolvency and Bankruptcy Code, 2016. The notice issued under Section 8 of the IBC was found invalid, lacking adherence to prescribed rules and principles of natural justice. Additionally, the Applicant failed to comply with Section 9(3)(c) requirements, rendering the application non-maintainable. The NCLT allowed the Petitioner to explore alternative remedies despite dismissing the petition. Case-Laws Insolvency and Bankruptcy Tue, 17 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351830