Unconditional Consent By Sole Financial Creditor Satisfies Requirements U/S 12A Of IBC: NCLT New Delhi

The NCLT, New Delhi, has ruled that "unconditional consent by a sole financial creditor" "satisfies the requirements of Section 12A of the IBC and Regulation 30A of the CIRP Regulations." The court's decision, which is a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a company can be held responsible for the misdeeds of another person. The court's decision is a crucial reminder to all that they must be diligent in their dealings.