Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
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NCLAT dismissed the appeal filed by the alleged creditor, holding that he failed to establish any valid, verifiable financial disbursement to qualify as a financial creditor under Section 5(8)(f) IBC. The claimed payments by cheque and cash were unsupported by bank records, receipts, or other documentary evidence, and the burden of proof lay on the appellant. The RP had lawfully rejected the claim, and the mention of "0% claim admitted" did not amount to its admission. NCLAT further noted indicia of collusion with the erstwhile management and unauthorized occupation of a flat without consideration. As the resolution plan had been approved by NCLT and the statutory period under Section 61(2) IBC had expired, the appellant's belated attempt to reopen or revive his claim was held impermissible. The impugned order was affirmed and the appeal was rejected.
NCLAT dismissed the appeal filed by the alleged creditor, holding that he failed to establish any valid, verifiable financial disbursement to qualify as a financial creditor under Section 5(8)(f) IBC. The claimed payments by cheque and cash were unsupported by bank records, receipts, or other documentary evidence, and the burden of proof lay on the appellant. The RP had lawfully rejected the claim, and the mention of "0% claim admitted" did not amount to its admission. NCLAT further noted indicia of collusion with the erstwhile management and unauthorized occupation of a flat without consideration. As the resolution plan had been approved by NCLT and the statutory period under Section 61(2) IBC had expired, the appellant's belated attempt to reopen or revive his claim was held impermissible. The impugned order was affirmed and the appeal was rejected.
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