https://www.taxtmi.com/caselaws?id=283634 The National Company Law Tribunal (NCLT) upheld the Resolution Professional's decision to dismiss National Spot Exchange Ltd.'s claim against the Corporate Debtor, emphasizing the requirement of a direct nexus between operational creditors and the Corporate Debtor for claim admittance under the Insolvency and Bankruptcy Code, 2016. The tribunal highlighted the importance of concrete evidence and direct involvement in transactions, leading to the rejection of the claim related to dues arising from transactions with a sister concern. The ruling reinforced the principle that claims must originate directly from creditors of the Corporate Debtor to be considered valid. en-us Tue, 06 Mar 2018 00:00:00 +0530 Fri, 04 Oct 2019 09:36:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283634 The National Company Law Tribunal (NCLT) upheld the Resolution Professional's decision to dismiss National Spot Exchange Ltd.'s claim against the Corporate Debtor, emphasizing the requirement of a direct nexus between operational creditors and the Corporate Debtor for claim admittance under the Insolvency and Bankruptcy Code, 2016. The tribunal highlighted the importance of concrete evidence and direct involvement in transactions, leading to the rejection of the claim related to dues arising from transactions with a sister concern. The ruling reinforced the principle that claims must originate directly from creditors of the Corporate Debtor to be considered valid. Case-Laws Insolvency and Bankruptcy Tue, 06 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283634