https://www.taxtmi.com/caselaws?id=305721 The National Company Law Appellate Tribunal upheld the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The challenge by the Appellant-Shareholder was dismissed as the dispute between the Corporate Debtor and the Financial Creditor, which was subject to arbitration, could not be used to oppose the insolvency application. The Tribunal found that there was a debt and default by the Corporate Debtor, leading to the correct admission of the application. The appeal was dismissed, and no costs were awarded. en-us Tue, 31 Jul 2018 00:00:00 +0530 Thu, 22 Dec 2022 08:45:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305721 The National Company Law Appellate Tribunal upheld the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The challenge by the Appellant-Shareholder was dismissed as the dispute between the Corporate Debtor and the Financial Creditor, which was subject to arbitration, could not be used to oppose the insolvency application. The Tribunal found that there was a debt and default by the Corporate Debtor, leading to the correct admission of the application. The appeal was dismissed, and no costs were awarded. Case-Laws Insolvency and Bankruptcy Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305721