Madras High Court Dismisses Writ Petition Challenging NCLT Order Admitting CIRP Against Corporate Debtor — Default and Debt Admitted, No Ground for Interference Under Article 226. The court held that the existence of debt and default is sufficient for admission under Section 7 IBC, and the writ petition is not maintainable due to alternative remedy under Section 61 IBC.
23 Jan 2025The writ petition was filed by Dharamshi K. Patel and Kamala D. Patel, shareholders and suspended directors of Evershine Wood Packaging Private Limite...
