Corporate LawsLaw Report
The Tribunal admitted CIRP against Shyam EPC after finding financial debt and default established through loan agreement, disbursement records, and non-repayment.
The National Company Law Tribunal [NCLT] Amaravati has admitted the insolvency application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed against the Corporate Debtor Shyam EPC Private Limited, stating that the financial assistance extended by the Financial Creditor to the extent of ₹1.05 crore constitutes the financial debt and the default is in excess of the statutory…