IBCArticle·30 September 2026

NCLT says Section 10 Admission Follows Proof of Debt and Default

By J the App

Executive Summary

Sowcar Electricals, an MSME engaged in trading electrical and electronic goods, faced financial default of ₹1.44 crore against aggregate dues of about ₹5.95 crore. NCLT found the petition complete, the debt genuine, the default above ₹1 crore and no Section 11 ineligibility, and accordingly admitted CIRP.

Domain | IBC | Regulatory

The Position

In a Section 10 application...

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