India: Non-Payment Of A Part Of The Debt When It Becomes Due And Payable Will Amount To Default On The Part Of The Corporate Debtor And Will Attract An Order U/S 7 Of IBC - Argus Partners

India: Non-Payment Of A Part Of The Debt When It Becomes Due And Payable Will Amount To Default On The Part Of The Corporate Debtor And Will Attract An Order U/S 7 Of IBC - Argus Partners

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The Supreme Court of India on May 11, 2023, in the case of, M. Suresh Kumar Reddy v. Canara Bank, [Civil Appeal No. 7121 of 2022], held that the non-payment of a part of the debt when it becomes due and payable...

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