NCLAT Allows IDBI Trusteeship to Initiate CIRP as there is Valid Authorization from Assignee of Debt [Read Order]

The National Company Law Appellate Tribunal (NCLAT), Principal Bench, has allowed IDBI Trusteeship to initiate Corporate Insolvency Resolution Process (“CIRP”) as there is a valid authorization from the assignee of the Debt. The Appeal has been filed by the Suspended Director of the Corporate Debtor (“CD”) – Advantage Raheja Hotels Private Limited challenging the order…

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