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CIRP plea on ground of temporary cash flow issues wouldn’t be justifiable when corporate debtor was solvent

July 8, 2020[2020] 117 515 (NCLT-Beng.)

IBC: Where corporate debtor an export oriented undertaking with huge foreign funding was a solvent company it would not be justifiable to send it into CIRP on undergoing temporary cash flow issues

IBC: Where demand notice being served on corporate debtor was under incorrect provision and invalid for that reason, it could not be said that any default was committed by corporate debtor

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