Loan Amount Acknowledged As “Long-Term Borrowings” Has Commercial Effect And Covered U/S 5(8) Of IBC: NCLT Mumbai

Aditi Gupta

15 May 2024 7:45 PM IST

  • Loan Amount Acknowledged As “Long-Term Borrowings” Has Commercial Effect And Covered U/S 5(8) Of IBC: NCLT Mumbai

    The National Company Law Tribunal, Mumbai Bench, comprising Ms. Lakshmi Gurung, Member (Judicial) & Sh. Charanjeet Singh Gulati (Technical), while adjudicating an application under Section 7 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in the case of Metamorphosis Trading LLP vs Membrane Filters (India) Private Limited has held that the loan amount acknowledged in...

    Aditi Gupta

    Aditi Gupta

    High Court of Judicature at Allahabad

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