https://www.taxtmi.com/caselaws?id=783345 The NCLAT upheld admission of a Section 7 IBC application against the corporate debtor, dismissing the shareholder-appellant's challenge. It held the appellant had locus standi as he had been allowed to participate before the NCLT and was also a personal guarantor for the financial facilities forming the basis of the Section 7 claim. On merits, the Tribunal found undisputed financial debt, valid assignment to the financial creditor, acknowledgment of debt and default through an OTS proposal, NeSL records, and the corporate debtor's balance sheet. The NCLAT declined to interfere with admission but granted liberty to the appellant to move a Section 65 IBC application before the NCLT. en-us Fri, 12 Dec 2025 00:00:00 +0530 Mon, 15 Dec 2025 08:39:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783345 The NCLAT upheld admission of a Section 7 IBC application against the corporate debtor, dismissing the shareholder-appellant's challenge. It held the appellant had locus standi as he had been allowed to participate before the NCLT and was also a personal guarantor for the financial facilities forming the basis of the Section 7 claim. On merits, the Tribunal found undisputed financial debt, valid assignment to the financial creditor, acknowledgment of debt and default through an OTS proposal, NeSL records, and the corporate debtor's balance sheet. The NCLAT declined to interfere with admission but granted liberty to the appellant to move a Section 65 IBC application before the NCLT. Case-Laws IBC Fri, 12 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783345