NCLAT:Breach of Settlement Agreement Does Not Bar Financial Creditors from Filing Application u/s 7 of IBC
The Tribunal held that if the Corporate Debtor had genuinely contested the revocation, they would have referred to payments made towards the entire settlement amount or demanded their NDC The bench of the National Company Law Appellate Tribunal (NCLAT) in New Delhi has ruled that financial creditors who have signed a settlement agreement with the…