https://www.taxtmi.com/caselaws?id=759177 NCLAT set aside the Adjudicating Authority's order admitting a Section 7 application filed ex-parte against the corporate debtor. The tribunal found that notices were never served on the corporate debtor, denying it opportunity to defend. While acknowledging NeSL report as important evidence, NCLAT held it insufficient as conclusive proof of financial debt without examining the real nature of transaction between parties. The matter was remitted to Adjudicating Authority for fresh consideration, with corporate debtor granted three weeks to file reply. en-us Mon, 23 Sep 2024 00:00:00 +0530 Thu, 26 Sep 2024 08:15:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759177 NCLAT set aside the Adjudicating Authority's order admitting a Section 7 application filed ex-parte against the corporate debtor. The tribunal found that notices were never served on the corporate debtor, denying it opportunity to defend. While acknowledging NeSL report as important evidence, NCLAT held it insufficient as conclusive proof of financial debt without examining the real nature of transaction between parties. The matter was remitted to Adjudicating Authority for fresh consideration, with corporate debtor granted three weeks to file reply. Case-Laws IBC Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759177