The National Company Law Tribunal Bench affirmed a Section 9 petition brought under the Insolvency & Bankruptcy Code, 2016 (“the Code”), holding that the Corporate Debtor cannot later reject a wage structure adjustment once it has granted its consent.
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M/s. Liberium Global Resources Private Limited, an operational creditor, filed for bankruptcy against M/s. Amritsar MSW Limited, a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming that the latter had failed to pay its debts under the terms of the concession agreement.
The Department of Local Punjab Government, Punjab, Amritsar Municipal Corporation…
