No Provision In IBC To Issue Multiple Demand Notices Before Filing Petition U/S 9 Of IBC: NCLT New Delhi

The NCLT New Delhi ruled that there is no provision under the IBC for issuing multiple demand notices before filing a petition under Section 9. In this case, the operational creditor had sent multiple notices demanding payment before approaching the NCLT. The tribunal held that sending multiple demand notices is unnecessary and could result in delays in the legal process. This ruling highlights the importance of adhering to the prescribed procedures under the IBC and ensures that creditors do not misuse the process by prolonging the timeline unnecessarily before initiating an insolvency petition.