https://www.taxtmi.com/caselaws?id=753172 NCLAT upheld NCLT's decision admitting corporate debtor into CIRP under Section 9 of IBC. Despite corporate debtor's claims that goods were delivered to separate entity and allegations of customs duty malpractices, tribunal found operational creditor presented compelling evidence including signed contracts, bills of lading, and confirmation letters. Corporate debtor failed to respond to demand notices within legal timeframe, indicating no pre-existing dispute. Connection between corporate debtor's director's son and third-party entity undermined debtor's claims. Allegations of customs duty evasion deemed separate matter requiring independent investigation. Appeal dismissed. en-us Mon, 20 May 2024 00:00:00 +0530 Mon, 27 May 2024 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753172 NCLAT upheld NCLT's decision admitting corporate debtor into CIRP under Section 9 of IBC. Despite corporate debtor's claims that goods were delivered to separate entity and allegations of customs duty malpractices, tribunal found operational creditor presented compelling evidence including signed contracts, bills of lading, and confirmation letters. Corporate debtor failed to respond to demand notices within legal timeframe, indicating no pre-existing dispute. Connection between corporate debtor's director's son and third-party entity undermined debtor's claims. Allegations of customs duty evasion deemed separate matter requiring independent investigation. Appeal dismissed. Case-Laws Insolvency and Bankruptcy Mon, 20 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753172