NCLAT dismissed appeal against order rejecting claim of Rs. 42.86 crores by appellant as unsecured creditor. No evidence of loan advanced to corporate debtor. Agreement without registered sale deed cannot transfer immovable property under Registration Act. Mere agreement to sell without sale deed cannot prove claim amount was adjusted against sale consideration in dubious, preferential transaction to defraud creditors.
NCLAT dismissed appeal against order rejecting claim of Rs. 42.86 crores by appellant as unsecured creditor. No evidence of loan advanced to corporate debtor. Agreement without registered sale deed cannot transfer immovable property under Registration Act. Mere agreement to sell without sale deed cannot prove claim amount was adjusted against sale consideration in dubious, preferential transaction to defraud creditors.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
