Supreme Court Affirms NCLAT Decision: Section 9 Insolvency Application Barred by Time, Dismisses Creditor's Appeal.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Maintainability of section 9 application - initiation of CIRP - It was held by NCLAT that The present was a case filed by the Operational Creditor only for recovery of its contractual dues with regard to default committed as per the case of the Appellant on 30.04.2015 for stage 1 and 23.10.2018 for stage 2. The Adjudicating Authority did not commit any error in rejecting Section 9 application as barred by time. - Now the Supreme Court, 3 member bench, has dismissed the appeal against the decision of NCLAT.....