NCLT Mumbai Bench rejects Section 7 IBC application filed by Adamji Investments against M Cons Media Marketing due to corporate debtor's struck-off status.
Corporate Debtor M Cons Media was struck off ROC register on 31 March 2022, ceasing to exist as legal entity under Companies Act 2013.
Tribunal cites Fedex Express NCLAT judgment, declaring earlier precedents per incuriam, and finds service of notice to non-existent entity invalid.
Financial creditor claimed default of ₹11.73 crore with 24% interest since 2020, but tribunal holds CIRP cannot proceed against dissolved company.