https://www.taxtmi.com/caselaws?id=409209 The appeal against the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code by the National Company Law Tribunal was dismissed. The total outstanding debt was found to be valid, not barred by limitation, and correctly classified as Non-Performing Assets. The calculation of debt due was deemed accurate, and the invocation of Strategic Debt Restructuring did not preclude insolvency proceedings. The Tribunal affirmed compliance with procedural requirements and upheld the admission of the application for Corporate Insolvency Resolution Process, concluding that default had occurred, and natural justice was not denied. en-us Tue, 29 Jun 2021 00:00:00 +0530 Fri, 02 Jul 2021 08:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409209 The appeal against the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code by the National Company Law Tribunal was dismissed. The total outstanding debt was found to be valid, not barred by limitation, and correctly classified as Non-Performing Assets. The calculation of debt due was deemed accurate, and the invocation of Strategic Debt Restructuring did not preclude insolvency proceedings. The Tribunal affirmed compliance with procedural requirements and upheld the admission of the application for Corporate Insolvency Resolution Process, concluding that default had occurred, and natural justice was not denied. Case-Laws Insolvency and Bankruptcy Tue, 29 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409209