Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Pre-Section 10A Default Is Not Extended By Acknowledgment When Partial Payment Is Made For Acknowledged Debt: NCLAT
Appeal Against OrderInsolvency & Bankruptcy Code
The NCLAT ruled that a pre-Section 10A default is not extended by acknowledgment when a partial payment is made for the acknowledged debt. This decision clarifies the application of Section 10A of the IBC. It ensures that defaults are assessed based on their original occurrence. This ruling underscores the importance of clear evidence in insolvency proceedings. It highlights the need for precise application of IBC provisions. The NCLAT's order reinforces the integrity of IBC regulations.
