Submission of a copy of CIRP application to IBBI in compliance of Rule 4(3) of Application to Adjudicating Authority Rules, 2016 during the course of proceedings would suffice and on that account the application cannot be treated as defective – Laxmi Engineering Industries (Bhopal) Pvt. Ltd. Vs. Canara Bank – NCLT Indore Bench

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Insolvency cannot be initiated against Owner in absence of agreement between the Owner and Sub-Contractor and based on a bona fide assurance of the owner to pay the amount, no debt can be established against the owner – Sterling and Wilson Pvt. Ltd. Vs. Embassy Energy Pvt. Ltd. – NCLAT Chennai

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The Banks could have relied on when the account of Corporate Debtor was treated as NPA and the period of limitation should be calculated from a different date, as the accounts were in default since beginning – Trilok Chand Agarwal Vs. Punjab National Bank – NCLAT New Delhi

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