NCLT Delhi: Financial Creditor Cannot Invoke CIRP Against Corporate Debtor To Recover Debt From Homebuyer

The National Company Law Tribunal (“NCLT”), New Delhi Court – III comprising of Mr. Bachu Venkat Balaram Das (Judicial Member) and Mr. Atul Chaturvedi (Technical Member) adjudicating a petition filed in South Indian Bank Limited vs. Magic Info Solutions Private Limited dismissed the petition to initiate Corporate Insolvency Resolution Process (CIRP) against Magic Info...