https://www.taxtmi.com/caselaws?id=459906 NCLT Mumbai admitted a petition under Section 7 of IBC for initiating CIRP against a corporate debtor. The financial creditor established debt of Rs.194,26,53,633/- due and payable as of 17.01.2019, with default admitted by the corporate debtor. The tribunal held that the Dharani Sugars SC judgment setting aside RBI's 12.02.2018 circular did not affect this petition, as it was filed due to actual debt and default, not merely because of the circular. The application in prescribed Form 1 was complete and satisfied all requirements for CIRP initiation. en-us Thu, 10 Oct 2019 00:00:00 +0530 Thu, 02 Jan 2025 23:38:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459906 NCLT Mumbai admitted a petition under Section 7 of IBC for initiating CIRP against a corporate debtor. The financial creditor established debt of Rs.194,26,53,633/- due and payable as of 17.01.2019, with default admitted by the corporate debtor. The tribunal held that the Dharani Sugars SC judgment setting aside RBI's 12.02.2018 circular did not affect this petition, as it was filed due to actual debt and default, not merely because of the circular. The application in prescribed Form 1 was complete and satisfied all requirements for CIRP initiation. Case-Laws IBC Thu, 10 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459906