NCLT observes Corporate Insolvency Resolution Process (CIRP) cannot not be initiated twice against same debtor

The NCLT (Ahmedabad Bench) in Oasis Infrastructure (P.) Ltd. v. Wind World (India) Ltd. ([2018] 91 taxmann.com 255 (NCLT – Ahd.)) held where against corporate debtor, CIRP had already been initiated and insolvency Resolution Professional (IRP) had been appointed, no second CIRP could be initiated against same corporate debtor.

March 23rd, 2018