Analysis of NCLT Judgement in Global Rural Netco Ltd. vs. Evershine Advisory Services Private Ltd.

By not replying to the letters of the Financial Creditor, and by not filing an affidavit in reply to the petition for contesting its liability, the Corporate Debtor has admitted its liability.

The Corporate Debtor has never appeared before this Bench during the course hearings in this matter despite the service of petition by the Financial Creditor. Affidavit of service has been placed on record. The Corporate Debtor neither replied to the Final Call Letter of Financial Creditor nor to this petition. The conduct of the Corporate Debtor shows that there is no valid defence to this petition and hence the petition is fit to be admitted.

In the present case, by not replying to the letters of the Financial Creditor, and by not filing an affidavit in reply to this petition for contesting its liability, the Corporate Debtor has admitted its liability. Moreover, there are multiple acknowledgements of the Corporate Debtor for admission of its liability on record.

Judgement link : https://ibbi.gov.in/webadmin/pdf/order/2019/Mar/25th%20Feb%202019%20in%20the%20matter%20of%20Evershine%20Advisory%20Services%20Private%20Limited%20CP%20No.%202684-IBC-NCLT-MB-MAH-2018_2019-03-06%2016:41:51.pdf