AMB Infrabuild Pvt. Ltd.

If two Corporate Debtors collaborate and form an independent Corporate Entity for developing land & allotting the premises to its Allottee, IBC application u/s 7 will be maintainable against both of them jointly & not individually against one or other – Mrs. Mamatha Vs. AMB Infrabuild Pvt. Ltd. & Ors. – NCLAT

The question arises for consideration in this appeal is whether the
application under Section 9 is jointly maintainable against 1st and 2nd
Respondents (‘Corporate Debtors’) or not?

If the two ‘Corporate Debtors’ collaborate and form an independent corporate unit entity for developing the land and allotting the premises to its allottee, the application under Section 7 will be maintainable against both of them jointly and not individually against one or other.

If two Corporate Debtors collaborate and form an independent Corporate Entity for developing land & allotting the premises to its Allottee, IBC application u/s 7 will be maintainable against both of them jointly & not individually against one or other – Mrs. Mamatha Vs. AMB Infrabuild Pvt. Ltd. & Ors. – NCLAT Read Post »

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