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Insolvency plea filed by creditor admitted during pendency of proceeding under IBC

January 24, 2019[2019] 101 267 (NCL-AT)

IBC : When applicant's application for initiating CIRP against corporate debtor was pending, another financial creditor 'I' also initiated CIRP against very same corporate debtor and according to applicant, same was done for delaying its legimate claim against corporate debtor, however, it failed to provide any evidence to show that said application was filed fraudulently or with malicious intent, Adjudicating Authority had rightly admitted application under section 7 filed by 'I'

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