NCLT Says Section 7 IBC Curable Defects Do Not Defeat an Established Default

A financial creditor’s Section 7 petition faced objections over an allegedly missing date of default, inconsistent records, the COVID-era bar under Section 10A, and the contention that insolvency was being used as a recovery mechanism. The NCLT treated the procedural omission as curable, relied on documentary evidence other than the information utility record, rejected the Section 10A objection and admitted the petition.