CIRP Can be Initiated against Corporate Debtor even on Principal-Agent Relationship between CD and Client: NCLT

CIRP can be initiated against corporate debtor even on principal-agent relationship between CD and client, rules NCLT
NCLT- national companies - Corporate debtor - NCLT ruling on CIRP -TAXSCAN

The Mumbai Bench of the National Company Law Tribunal ( NCLT ) held that the Corporate Insolvency Resolution Process ( CIRP ) can be initiated against corporate debtor ( CD ) even on principal-agent relationship between the CD and the client. The present petition has been filed under Section 9 of the Insolvency and Bankruptcy…

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