We are pleased to share that that our Disputes team has recently secured a favourable order on behalf of one of our client, which is a leading Non-Banking Financial Company (NBFC). The proceedings were instituted under Section 7 of the Insolvency and Bankruptcy Code, 2016, before the Hon’ble National Company Law Tribunal, New Delhi Bench.
The petition arose from a loan extended by our client under a duly executed loan agreement, which was met with repeated defaults by the corporate debtor, both in repayment of principal and payment of interest. Upon the debtor’s continued non-compliance despite formal demand, proceedings were initiated under the IBC. Our firm was represented by our Disputes Partner, Abhinav Agnihotri, along with our Associates Gitesh Chopra and Prabhav Gang.
Pursuant to hearing detailed arguments in the matter, the Hon’ble NCLT was pleased to pass an order admitting the petition and directing commencement of CIRP against the Corporate Debtor.
This order reinforces the efficacy of the IBC as a creditor-driven mechanism for insolvency resolution and underscores the critical importance of strategic legal enforcement in preserving creditor rights.
We remain steadfast in our commitment to delivering legally rigorous and outcome-oriented representation in complex financial disputes.
To read full judgment click here
