Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
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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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