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The essence of section 241/242 would be defeated if during the pendency of the petition, the operational or financial creditors are allowed to initiate the corporate insolvency resolution process itself.

NCLAT :: Companies Act, 2013 - Sections 241 and 242 - Tribunal/Appellate Tribunal - Jurisdiction to interfere with Board's…

Resolution under IBC: Banks may get pre-NCLT window
Banks will likely have window to scout for prospective…
Where corporate debtor has allowed the operational creditor to execute the work though there was delay in execution, in the absence of any pre-existing dispute, admission of application under section 9 IBC cannot be denied
NCLAT :: Insolvency and Bankruptcy Code, 2016- section…
Where corporate debtor has allowed the operational creditor to execute the work though there was delay in execution, in the absence of any pre-existing dispute or pendency of suit or arbitration proceedings such delay in execution cannot be noticed to deny admission of application under section 9 IBC
NCLAT :: Insolvency and Bankruptcy Code, 2016- section…
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NISHANT has Posted Roar "The essence of section 241/242 would be defeated if during the pendency of the petition, the operational or financial creditors are allowed to initiate the corporate insolvency resolution process itself." 24 Oct 2019

Anuj has Posted Roar "Resolution under IBC: Banks may get pre-NCLT window" 23 Oct 2019

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