NCLT rejects Adamji Investments' insolvency plea against struck-off firm

Mumbai NCLT dismissed Adamji Investments' insolvency petition against M Cons Media Marketing.

The petition under Section 7 of IBC sought CIRP for an alleged default of Rs 11.73 crore.

The company's name had been struck off by the RoC on April 7, 2022, prior to the petition.

NCLT held that insolvency proceedings cannot be initiated against a dissolved company.

The creditor had not sought restoration of the company's name before filing the plea.