Section 43 of IBC refers to property which has very wide meaning and includes goods – State Bank of India and Ors. v. Sidharth Bharatbhushan Jain and Ors. – NCLT Ahmedabad Bench

NCLT Ahmedabad Bench held that Section 43 of IBC refers to property which has very wide meaning and includes goods. It is common practice that before commencement of insolvency, the assets of the corporate debtor are stripped many a times by the management. The suspended management conceals the data from the RP during the CIRP process. In the present matter too S. 19 (2) application was filed by the RP.

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