https://www.taxtmi.com/caselaws?id=423778 The National Company Law Tribunal, Mumbai Bench, rejected the Company Petition seeking Corporate Insolvency Resolution Process against a Corporate Debtor for defaulting on a loan. The Tribunal found insufficient evidence to prove the existence of a financial debt, emphasizing the need for solid documentary evidence to substantiate the claim. The dispute over whether the debt was a financial debt or a joint venture agreement was not conclusively proven, leading to the rejection of the petition due to inadequate evidence supporting the claim of default on a financial debt. en-us Fri, 10 Jun 2022 00:00:00 +0530 Wed, 15 Jun 2022 09:17:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423778 The National Company Law Tribunal, Mumbai Bench, rejected the Company Petition seeking Corporate Insolvency Resolution Process against a Corporate Debtor for defaulting on a loan. The Tribunal found insufficient evidence to prove the existence of a financial debt, emphasizing the need for solid documentary evidence to substantiate the claim. The dispute over whether the debt was a financial debt or a joint venture agreement was not conclusively proven, leading to the rejection of the petition due to inadequate evidence supporting the claim of default on a financial debt. Case-Laws Insolvency and Bankruptcy Fri, 10 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423778