NCLT Dismisses CIRP Application: Appellant Failed to Prove Direct Loan to Corporate Debtor, No Corporate Veil Piercing.

NCLT Dismisses CIRP Application: Appellant Failed to Prove Direct Loan to Corporate Debtor, No Corporate Veil Piercing. https://www.taxtmi.com/highlights?id=71210 Initiation of CIRP - Given the fact that the Appellant has failed to establish that he had given any loan to the Corporate Debtor directly, it does not stand to reason for him to press for piercing the corporate veil to alleviate the burdens of his financial misadventure - NCLT rightly rejected the application - AT en-us Mon, 31 Jul 2023 06:50:52 +0530 Mon, 31 Jul 2023 06:50:52 +0530 TaxTMI RSS Generator NCLT Dismisses CIRP Application: Appellant Failed to Prove Direct Loan to Corporate Debtor, No Corporate Veil Piercing. https://www.taxtmi.com/highlights?id=71210 Initiation of CIRP - Given the fact that the Appellant has failed to establish that he had given any loan to the Corporate Debtor directly, it does not stand to reason for him to press for piercing the corporate veil to alleviate the burdens of his financial misadventure - NCLT rightly rejected the application - AT Highlights Insolvency and Bankruptcy Mon, 31 Jul 2023 06:50:52 +0530 https://www.taxtmi.com/highlights?id=71210