https://www.taxtmi.com/caselaws?id=758323 NCLAT upheld Section 7 application admission filed by financial creditors as debt and default by corporate debtor remained unquestioned and admitted. However, appellant was granted liberty to file application under Section 60(5) IBC within one week to challenge inclusion of two related parties in Committee of Creditors and admission of their claims. IRP directed not to convene CoC meeting for two weeks, allowing adjudicating authority to decide on related party inclusion issue after hearing parties. Appeal disposed of with specific directions for further proceedings. en-us Mon, 09 Sep 2024 00:00:00 +0530 Wed, 11 Sep 2024 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758323 NCLAT upheld Section 7 application admission filed by financial creditors as debt and default by corporate debtor remained unquestioned and admitted. However, appellant was granted liberty to file application under Section 60(5) IBC within one week to challenge inclusion of two related parties in Committee of Creditors and admission of their claims. IRP directed not to convene CoC meeting for two weeks, allowing adjudicating authority to decide on related party inclusion issue after hearing parties. Appeal disposed of with specific directions for further proceedings. Case-Laws IBC Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758323