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NCLT REITERATES THAT UNPAID DUES UNDER SETTLEMENT AGREEMENT CANNOT BE RECOVERED UNDER INSOLVENCY AND BANKRUPTCY CODE

The National Company Law Tribunal (NCLT) Principal Bench, New Delhi has in a matter of M/S Brand Realty Services Ltd vs M/S Sir John Bakeries India Pvt Ltd passed an Order dated 22-07-2020 and held that NCLT is not a recovery court and that an unpaid instalment under a settlement agreement cannot be considered as an operational debt under the Insolvency and Bankruptcy Code 2016 (the Code).


To read more, please visit the link below:


http://www.theindianlawyer.in/blog/2020/08/01/nclt-reiterates-that-unpaid-dues-under-settlement-agreement-cannot-be-recovered-under-insolvency-and-bankruptcy-code/


#ibc #instalment #cheque #settlement #nclt #operationaldebt

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