[IBC] Pendency Of Civil Suit Doesn't Preclude Admission Of S. 7 Application When Debt & Default Are Proven: NCLAT
Tazeen Ahmed
10 Oct 2024 8:00 PM IST
![[IBC] Pendency Of Civil Suit Doesnt Preclude Admission Of S. 7 Application When Debt & Default Are Proven: NCLAT](https://www.livelaw.in/h-upload/2020/07/10/750x450_378057-nclat.jpg "[IBC] Pendency Of Civil Suit Doesnt Preclude Admission Of S. 7 Application When Debt & Default Are Proven: NCLAT")
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi comprising Justice Ashok Bhushan (Chairperson), Barun Mitra (Member Technical), Arun Baroka (Member Technical) has held that the pendency of the Civil Suit is no reason for not proceeding to admit the Section 7 Application when the debt and default are proved. Background Facts: The Financial...
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