Centrio Lifespaces Ltd.

Merely, authorised in Board Resolution to represent the company, concerning the business affairs relating to property of the company, cannot filed application u/s 7 of IBC – Rushabh Civil Contractors Private Limited Vs. Centrio Lifespaces Limited – NCLT Mumbai

NCLT rejected the application filed under section 7 of the IBC and held that on careful examination of the aforesaid Board Resolution, it is clear that the Board of the Financial Creditor never authorised the Director to initiate CIRP against the Corporate Debtor but to represent the company, concerning the business affairs relating to property of the company. The Corporate Debtor has rightly argued that the present petition is filed without any authority.

Merely, authorised in Board Resolution to represent the company, concerning the business affairs relating to property of the company, cannot filed application u/s 7 of IBC – Rushabh Civil Contractors Private Limited Vs. Centrio Lifespaces Limited – NCLT Mumbai Read Post »

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