Article
National Company Law Appellate Tribunal Holds That Non-conversion Of Optionally Convertible Debentures Does Not Extinguish Financial Debtor Bar Insolvency Proceedings
The National Company Law Appellate Tribunal (“NCLAT”), in Arvind Kumar vs. Beacon Trusteeship Limited and Anr., dismissed an appeal challenging the admission of a petition under Section 72 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) by the National Company Law Tribunal, New Delhi (“NCLT”).
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