NCLAT: Lease and Rental dues do not constitute Operational Debt under the Insolvency and Bankruptcy Code
This declared by the NCLAT in the case of Ravindranath Reddy v. G. Kishan. In this case, an appeal before the National Company Law Appellate Tribunal (NCLAT) was filed by Mr. Ravindranath Reddy, the director of M/S Walnut Packaging...
Reverse Corporate Insolvency Resolution Procedure [Reverse CIRP]: A Novel Experiment Conducted By The NCLAT
The Insolvency and Bankruptcy Code, as mentioned in the objects and reasons, was enacted to provide effective resolution procedure for timely resolution of debtors, and to maximise the value of the debtor’s assets. To pursue these objects, it provides...