Case Law Analysis
|National Company Law Appellate Tribunal
Section 65 IBC | Malicious Refusal by Single Creditor to Accept Repayment Justifies CIRP Termination : NCLAT
NCLAT rules that a single creditor’s unjustified refusal to accept repayment of an admitted debt during CIRP constitutes abuse of process under Section 65 IBC, warranting termination of insolvency proceedings. The ruling protects corporate debtors from frivolous or malicious creditor actions that undermine the IBC’s objectives.