Delighted on the admission of an Application/Petition under Section 7 of IBC by NCLT, Allahabad for initiation of Corporate Insolvency Resolution Process. The Corporate Debtor is first ever builder situated in Ghaziabad, U.P. who has been declared insolvent by the Hon'ble Tribunal.
The Hon'ble Tribunal took only 5 months (despite the impact of Bench shuffling) to dispose of the petition. Such timely and effective disposal by NCLT reaffirms our faith in the same.
The petition was filed and argued by Adv. Devesh Saxena, Managing Partner, S&D Legal Associates.