https://www.taxtmi.com/caselaws?id=460281 The NCLT Chandigarh admitted an application under Section 7 of IBC, 2016 filed by a bank against a corporate debtor. The tribunal held that the application was within the limitation period, calculating from the NPA date of 31.08.2017. Despite the death of the signatory due to COVID, the court found no force in arguments questioning document authenticity since the corporate debtor company remained in existence. The tribunal distinguished between the claimed amount and a separate DRT award in a different case, concluding the debt exceeded the minimum threshold. The bank successfully established debt and default, resulting in admission of the application and declaration of moratorium under Section 14. en-us Tue, 14 May 2024 00:00:00 +0530 Fri, 17 Jan 2025 20:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460281 The NCLT Chandigarh admitted an application under Section 7 of IBC, 2016 filed by a bank against a corporate debtor. The tribunal held that the application was within the limitation period, calculating from the NPA date of 31.08.2017. Despite the death of the signatory due to COVID, the court found no force in arguments questioning document authenticity since the corporate debtor company remained in existence. The tribunal distinguished between the claimed amount and a separate DRT award in a different case, concluding the debt exceeded the minimum threshold. The bank successfully established debt and default, resulting in admission of the application and declaration of moratorium under Section 14. Case-Laws IBC Tue, 14 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460281