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ARTICLE · 02 JANUARY 2020

If A Demand Notice Under IBC Returns Undelivered

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If a demand notice under IBC returns undelivered then what are the remedies available?

IndiaInsolvency/Bankruptcy/Re-Structuring
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If a demand notice under IBC returns undelivered then what are the remedies available?

As a matter of law, a demand notice must be effectively delivered upon whom it is intended for and issued for delivery.

Rule 5 (2) of Rules, 2016 requires the delivery of the demand notice to the corporate debtor in the following manner:

a.at its registered office by hand, registered post or speed post with acknowledgement due or,

b.by electronic mail service to a whole time director or designated partner or key managerial personnel, if any, of the corporate debtor.

In Alloysmin Industries Vs. Raman Casting Pvt. Ltd., Company Appeal (AT) (Insolvency) No.684 of 2018, NCLAT has illustrated the essential requirement of service of demand notice under Section 8 of the Code upon the corporate debtor meaning that the corporate debtor should be made aware of the Demand Notice by duly serving it upon them.

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Disclaimer: The information contained in this document is intended for informational purposes only and does not constitute legal opinion, advice or any advertisement. This document is not intended to address the circumstances of any particular individual or corporate body. Readers should not act on the information provided herein without appropriate professional advice after a thorough examination of the facts and circumstances of a particular situation. There can be no assurance that the judicial/quasi-judicial authorities may not take a position contrary to the views mentioned herein.

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