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Demand notice equivalent to valid notice if it was issued by advocate on behalf of corporate debtor

April 25, 2019[2019] 106 91 (NCL-AT)

IBC : Where demand notice under section 8 was issued to corporate debtors and Senior Advocate along with another advocate appeared before Adjudicating Authority on behalf of corporate debtor and were heard, it could not be said that Adjudicating Authority admitted application under section 7 without notice to corporate debtor

IBC : Operational creditors have no right to be heard at time of admission of application under section 7, however, their claim will be considered by RP once said section 7 application is admitted

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