Application u/s 7 IBC Cannot Be Initiated Against a Struck-off Company: NCLT [Read Order]

The NCLT rules that struck off company not liable for action u/s 7 of IBC.

By Kalyani B. Nair - On December 4, 2023 12:30 pm - 2 mins read

National Company Law Tribunal - NCLT - Insolvency - TAXSCAN

The New Delhi Bench of the National Company Law Tribunal (NCLT) ruled that an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be initiated against a struck-off company. The application was jointly filed by Mr. Satyabrata Mitra & 145 other home buyers (Applicants) under Section 7 of the Insolvency and…

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