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Corporate debtor can’t oppose CIRP citing that proceeds from property mortgaged would be adequate to liquidate debt

July 23, 2020[2020] 117 725 (NCLT - New Delhi)

IBC : An application filed under section 7 cannot be opposed by corporate debtor by taking a plea that financial creditor has already taken possession of an immovable property mortgaged sale proceeds of which would be sufficient to liquidate debt

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