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A Financial Creditor Cannot Challenge The Insolvency Proceedings Initiated By Another Financial Creditor On The Ground Of Superior Claim: NCLAT
Arunima Bhattacharya
24 Aug 2019 4:59 PM IST
The NCLAT while dismissing an appeal filed by L&T Infrastructure Finance Company Ltd. held that a Financial Creditor cannot challenge the order of admission of Insolvency petition by another financial creditor merely on the ground that it has a superior claim over the claim of the other Financial Creditors. In this case, an Agreement was executed between...
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