https://www.taxtmi.com/caselaws?id=778387 NCLAT upheld admission of the Section 7 application, finding existence of debt and default proved by a revival letter, NPA classification in Nov. 2016, and the CD's FY 2016-17 balance sheet. The tribunal rejected the appellant's contention that termination shifted liability to the GoM and held an unsubstantiated alleged GoM offer did not discharge the CD's obligations, nor did the Vidharbha precedent apply. As the debt exceeded the statutory threshold, the appeal was dismissed for lack of merit. en-us Thu, 11 Sep 2025 00:00:00 +0530 Tue, 16 Sep 2025 09:02:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778387 NCLAT upheld admission of the Section 7 application, finding existence of debt and default proved by a revival letter, NPA classification in Nov. 2016, and the CD's FY 2016-17 balance sheet. The tribunal rejected the appellant's contention that termination shifted liability to the GoM and held an unsubstantiated alleged GoM offer did not discharge the CD's obligations, nor did the Vidharbha precedent apply. As the debt exceeded the statutory threshold, the appeal was dismissed for lack of merit. Case-Laws IBC Thu, 11 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778387