Demand notice delivered by an Advocate duly instructed by the Operational Creditor is a valid demand notice for purposes of initiation of CIRP

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Last updated: 22 January 2021
Quick Summary
The National Company Law Appellate Tribunal (NCLAT) ruled that a demand notice sent by an advocate on behalf of an operational creditor is a valid notice for initiating Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority had previously dismissed the application, stating the notice lacked authority, but the NCLAT overturned this decision. This ruling clarifies the validity of demand notices served through legal representatives.

Court :
NCLT

Brief :
08.01.2021: Upon proof of service of notice on Respondent, its appearance was awaited on the last date of hearing. Even today, nobody has turned up to defend the appeal on behalf of Respondent. In the given circumstances, we proceed to hear learned counsel for the Appellant and dispose off the appeal.

Citation :
Company Appeal (AT) (Insolvency) No. 905 of 2020

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