Insufficiency in stamp duty payment on finance documents not to affect admission of IBC proceedings
The Principal Bench of the National Company Law Appellate Tribunal in a recent case, observed that insufficiency in payment of stamp duty will not affect admission of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (“IBC”) for a valid debt. The judgement brings to rest the conflicting judgements of certain NCLTs where it was held that insufficiently stamped documents cannot be admitted in evidence in a corporate insolvency resolution process.
For further details, please refer to the below document.
