https://www.taxtmi.com/caselaws?id=299564 The resolution professional in insolvency may scrutinise the substance and genuineness of claims, rather than mechanically collating them, and may admit, revise, or reject claims on credible material. Validly assigned financial debt remains enforceable by the assignee, so the assignment agreements were upheld. On the facts, the term-loan claim and ECL Finance Loan II were admitted on the basis of loan documents, account records, sanction papers, and balance confirmation, while the alleged corporate-guarantee claim was rejected for want of proof of the primary guarantee document and supporting records. The admitted claims were enlarged in part and the committee of creditors was to be reworked accordingly. en-us Mon, 22 Feb 2021 00:00:00 +0530 Tue, 21 Dec 2021 08:43:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299564 The resolution professional in insolvency may scrutinise the substance and genuineness of claims, rather than mechanically collating them, and may admit, revise, or reject claims on credible material. Validly assigned financial debt remains enforceable by the assignee, so the assignment agreements were upheld. On the facts, the term-loan claim and ECL Finance Loan II were admitted on the basis of loan documents, account records, sanction papers, and balance confirmation, while the alleged corporate-guarantee claim was rejected for want of proof of the primary guarantee document and supporting records. The admitted claims were enlarged in part and the committee of creditors was to be reworked accordingly. Case-Laws Insolvency and Bankruptcy Mon, 22 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299564