https://www.taxtmi.com/caselaws?id=757562 NCLT Mumbai held that it has jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 to adjudicate disputes relating to corporate debtor's insolvency. The respondent admitted liability of INR 12,36,28,455/- in email correspondence, creating no dispute regarding this amount. Citing Gujarat Urja Vikas Nigam Ltd, the tribunal emphasized that NCLT has exclusive jurisdiction over proceedings involving corporate debtors under the Code. The application was partly allowed, directing respondent to pay the admitted amount immediately. For remaining disputed amounts, liquidator was granted permission under Section 33(5) to initiate appropriate legal proceedings. en-us Tue, 23 Jul 2024 00:00:00 +0530 Wed, 28 Aug 2024 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757562 NCLT Mumbai held that it has jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 to adjudicate disputes relating to corporate debtor's insolvency. The respondent admitted liability of INR 12,36,28,455/- in email correspondence, creating no dispute regarding this amount. Citing Gujarat Urja Vikas Nigam Ltd, the tribunal emphasized that NCLT has exclusive jurisdiction over proceedings involving corporate debtors under the Code. The application was partly allowed, directing respondent to pay the admitted amount immediately. For remaining disputed amounts, liquidator was granted permission under Section 33(5) to initiate appropriate legal proceedings. Case-Laws Insolvency and Bankruptcy Tue, 23 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757562