MAHESHWARI & CO. Wins Appeal for Leading Bank in NCLAT Insolvency Case

maheshwari & co. wins appeal for leading bank in nclat insolvency case

MAHESHWARI & CO. has successfully represented one of India’s leading institutional banks before the Hon’ble NCLAT in an appeal arising out of an NCLT order pertaining to the insolvency proceedings of a renowned company.

In an appeal arising out of an order of the Hon’ble NCLT, wherein the Hon’ble Tribunal was pleased to dismiss the petition filed by the bank under Section 7 of the IBC (Insolvency and Bankruptcy Code) – 2016 on the ground of there being duplicity of claims filed by the operational creditor in the insolvency proceedings pending against both the principal borrower and the guarantor.

The Hon’ble NCLAT was pleased to allow the appeal of the appellant, taking note of the correct proposition of law as laid down in the case of State Bank of India vs. Athena Energy Ventures Pvt. Ltd. [CA (AT) (INS) 633/2020], as well as Section 60(2) as amended with effect from 06.06.2018. 

MAHESHWARI & CO. successfully represented the client before the Hon’ble NCLAT in an appeal arising out of an NCLT order pertaining to the insolvency proceedings of the company.

MAHESHWARI & CO.’s team was led by Partner- Dharmendra Verma and Senior Associate- Pooja Singh.

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