NCLAT Provides Clarity That IBC Is Not A Debt-Recovery Mechanism

The National Company Law Appellate Tribunal has refused to entertain an insolvency petition offering clarity that the bankruptcy law can’t be used as a means to recover debt against solvent companies. While the IBC deals with financially distressed corporate entities unable to repay debts, it excludes solvent companies and cases stemming from pre-existing disputes.

In this context, Our Senior Counsel Mukesh Chand has been quoted in an article “NCLAT Provides Clarity That IBC Is Not A Debt-Recovery Mechanism” published on BQ Prime.

Read the detailed quote here: Click Here