https://www.taxtmi.com/caselaws?id=462345 NCLAT Principal Bench dismissed an appeal challenging admission of Section 7 application filed by financial creditor (assignee from HDFC Bank). Corporate debtor argued no loan disbursal occurred, but tribunal found this plea dishonest given debtor's own OTS proposals acknowledging debt. Evidence including OTS submissions and bank correspondence established debt exceeding Rs. 1 crore and continuous default. Tribunal held adjudicating authority correctly admitted the application as debt existence and default were clearly established through debtor's own admissions. en-us Mon, 17 Feb 2025 00:00:00 +0530 Thu, 12 Jun 2025 18:49:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462345 NCLAT Principal Bench dismissed an appeal challenging admission of Section 7 application filed by financial creditor (assignee from HDFC Bank). Corporate debtor argued no loan disbursal occurred, but tribunal found this plea dishonest given debtor's own OTS proposals acknowledging debt. Evidence including OTS submissions and bank correspondence established debt exceeding Rs. 1 crore and continuous default. Tribunal held adjudicating authority correctly admitted the application as debt existence and default were clearly established through debtor's own admissions. Case-Laws IBC Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462345