Bank has initiated recovery proceedings against the Corporate Debtor under the provisions of Section 13 (4) SARFAESI Act, the Corporate Debtor trying to seek benefits of moratorium under Section 14 of the IBC – Shree Ambica Rice Mill Vs. M/s Kaneri Agro Industries Limited – NCLAT New Delhi

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The Adjudicating Authority will be within its powers to have a relook at the CIRP admission order if it is convinced that the notice had not been served on the Corporate Debtor before passing of CIRP admission order – Surendra Patwa & Anr. Vs. Ritwik Finance Co. & Anr. – NCLAT New Delhi

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