Liability of Corporate Debtor should be included in Information Memorandum regardless of delay in filing claims: NCLAT

The National Company Law Appellate Tribunal held that the Resolution Professional should inform Financial Creditors existing in the records of Corporate Debtor about initiation of CIRP to avoid delay in filing claims.
Ashok Bhushan and NCLAT
Ashok Bhushan and NCLAT

The National Company Law Appellate Tribunal (NCLAT) recently held that the liabilities of the Corporate Debtor should be included in the Information Memorandum, regardless of any delay by the Financial Creditors in filing their claims. [Puneet Kaur v KV Developers Private Limited & Ors.]

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