Whether the date of dishonouring of cheques is the date of default? – Shantilal Javerchand Jain Vs. Varsha Corporation Ltd., Through its IRP Mr. Vinod Kumar Ambavat – NCLAT New Delhi

The issue falls for consideration in this case is whether the loan advanced to the corporate debtor regarding which the promissory note has been executed is a financial debt and further whether the letter dated 7.6.2016 constitutes admission of such debt and whether the date of dishonouring of cheques i.e. 16.12.2016 is the date of default.

Whether the date of dishonouring of cheques is the date of default? – Shantilal Javerchand Jain Vs. Varsha Corporation Ltd., Through its IRP Mr. Vinod Kumar Ambavat – NCLAT New Delhi Read Post »