Bombay High Court Dismisses Judgment Debtors' Notice of Motion for Condonation of Delay in Setting Aside Insolvency Notice — Delay of 1156 Days Uncondonable as It Would Prejudice General Body of Creditors. The Court held that insolvency proceedings involve the interests of all creditors, not just the original judgment creditor, and that the delay in challenging the insolvency notice cannot be condoned when it would prejudice other creditors who have already substituted in the proceedings.
15 Jun 2010The case involves a Notice of Motion filed by the judgment debtors, Jayantilal Khandwala & Sons, seeking condonation of a 1156-day delay in setting as...
