Advocate Sushila
NCLT REITERATES THAT UNPAID DUES UNDER SETTLEMENT AGREEMENT CANNOT BE RECOVERED UNDER INSOLVENCY AND BANKRUPTCY CODE

NCLT REITERATES THAT UNPAID DUES UNDER SETTLEMENT AGREEMENT CANNOT BE RECOVERED UNDER INSOLVENCY AND BANKRUPTCY CODE

The National Company Law Tribunal (NCLT) Principal Bench, New Delhi has in a matter of M/S Brand Realty Services Ltd vs M/S Sir John Bakeries India Pvt Ltd passed an Order dated 22-07-2020 and held that NCLT is not a recovery court and that an unpaid instalment under a settlement agreement cannot be considered as an operational debt under the Insolvency and Bankruptcy Code 2016 (the Code).


To read more, please visit the link below:


http://www.theindianlawyer.in/blog/2020/08/01/nclt-reiterates-that-unpaid-dues-under-settlement-agreement-cannot-be-recovered-under-insolvency-and-bankruptcy-code/


#ibc #instalment #cheque #settlement #nclt #operationaldebt

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