Supreme Court Restores NCLT Order Admitting Section 7 Application in Insolvency Case — NCLAT Erred in Rejecting Evidence of Outstanding Debt. The Court held that admissions made by a corporate debtor in a counter affidavit from a withdrawn petition can be relied upon in a subsequent Section 7 application under the Insolvency and Bankruptcy Code, 2016.
8 Sep 2020The case involves an appeal by SREI Equipment Finance Limited (the financial creditor) against an order of the National Company Law Appellate Tribunal...




