Issuance Of Certificate By Banks U/S Sec.9 Of I&B Code, 2016, An Extra Impossible Task Thrust Upon Banks – Live Law

The recent order of the National Company Law Tribunal, Mumbai Bench, dated 31.07.2017 in TCP No.409/(MAH)/2017 in the matter titled as Magicrete Buildings Solutions Pvt Ltd vs Pratibha Industries Ltd, will lead banks and financial institutions into an extreme legal necessity which is almost impossible to perform. As per Section 9 of the Insolvency and…

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