https://www.taxtmi.com/caselaws?id=766047 NCLAT Principal Bench dismissed appeals challenging machinery ownership during insolvency proceedings. Appellant claimed machinery was leased to corporate debtor, but tribunal found machinery rightfully belonged to debtor based on: hypothecation agreement executed prior to alleged lease arrangement without proper documentation; corporate debtor's claim of depreciation benefits as owner rather than lessee; and appellant's suspicious journal entry made after insolvency initiation to remove assets from debtor's books. Tribunal ruled machinery must be included in resolution plan as debtor's asset. en-us Thu, 13 Feb 2025 00:00:00 +0530 Mon, 17 Feb 2025 08:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766047 NCLAT Principal Bench dismissed appeals challenging machinery ownership during insolvency proceedings. Appellant claimed machinery was leased to corporate debtor, but tribunal found machinery rightfully belonged to debtor based on: hypothecation agreement executed prior to alleged lease arrangement without proper documentation; corporate debtor's claim of depreciation benefits as owner rather than lessee; and appellant's suspicious journal entry made after insolvency initiation to remove assets from debtor's books. Tribunal ruled machinery must be included in resolution plan as debtor's asset. Case-Laws IBC Thu, 13 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766047