The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by India SME Asset Reconstruction Company Limited (Financial Creditor) against M/s Medirad Tech India Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor is an assignee of debt from IDBI Bank and Axis Bank. The Corporate Debtor had challenged the assignment deed and the validity of the application, claiming it was barred by limitation and that the petitioner was not a financial creditor. The matter was previously dismissed by the Adjudicating Authority on the ground of limitation, but the order was set aside by the NCLAT, which directed the Adjudicating Authority to admit the application. The Corporate

The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by India SME Asset Reconstruction Company Limited (Financial Creditor) against M/s Medirad Tech India Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor is an assignee of debt from IDBI Bank and Axis Bank. The Corporate Debtor had challenged the assignment deed and the validity of the application, claiming it was barred by limitation and that the petitioner was not a financial creditor. The matter was previously dismissed by the Adjudicating Authority on the ground of limitation, but the order was set aside by the NCLAT, which directed the Adjudicating Authority to admit the application. The Corporate