Retired Partner Cannot Initiate Proceedings Under IBC Against Other Partners Or Firm For Retirement Dues: NCLT, Mumbai

The NCLT, Mumbai Bench consisting of Kishore Vemulapalli, Judicial Member and Rajesh Sharma, Technical Member in the case of Anil Vora HUF v. Kavya Build-Con Private Limited rejected the Section 9 application filed by the Operational Creditor on the ground that a retired partner cannot initiate proceedings u/s 9 of the Insolvency and Bankruptcy Code, 2016 to claim retirement dues...