https://www.taxtmi.com/caselaws?id=397514 The National Company Law Appellate Tribunal rejected the appeal challenging the admission of application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against 'Cybermate Infotek Limited.' The Tribunal upheld the impugned order, emphasizing the Corporate Debtor's admission of liability, dishonored cheques, and fraudulent actions by the Directors. The Tribunal found the Loan Agreement, Settlement Deed, and admission of debt as sufficient evidence of liability, dismissing the Appellant's arguments against privity of contract. The appeal lacked merit, and the Tribunal ruled in favor of the Financial Creditors, with no costs awarded. en-us Fri, 22 May 2020 00:00:00 +0530 Fri, 21 Aug 2020 09:23:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397514 The National Company Law Appellate Tribunal rejected the appeal challenging the admission of application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against 'Cybermate Infotek Limited.' The Tribunal upheld the impugned order, emphasizing the Corporate Debtor's admission of liability, dishonored cheques, and fraudulent actions by the Directors. The Tribunal found the Loan Agreement, Settlement Deed, and admission of debt as sufficient evidence of liability, dismissing the Appellant's arguments against privity of contract. The appeal lacked merit, and the Tribunal ruled in favor of the Financial Creditors, with no costs awarded. Case-Laws Insolvency and Bankruptcy Fri, 22 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397514