The National Company Law Tribunal ("NCLT"), New Delhi Bench, comprising of Shri Abni Ranjan Kumar Sinha (Judicial Member) and Shri L.N. Gupta (Technical Member), while adjudicating a petition filed in Saraf Chits Private Limited & Anr. v KAD Housing Private Limited, has held that Corporate Insolvency Resolution Process ("CIRP") cannot be initiated against a Corporate Debtor solely...
