In Gannon Dunkerley & Co. Ltd. v. Sangeeta Aviation Services Private Limited, the NCLT, Mumbai followed the NCLAT, New Delhi decision in M/s Ugro Capital Limited v. M/s Bangalore Dehydration and Drying Equipment Co. Pvt. Ltd., to allow an insolvency application by a financial creditor on the basis of a decree passed by the Bombay High Court against the corporate debtor

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