https://www.taxtmi.com/caselaws?id=783851 Managing directors of the corporate debtor challenged an order directing contribution to the corporate debtor's assets under s.66(1) IBC for alleged fraudulent trading involving round-tripping and sham purchases. The NCLAT held that the absence of invoices, delivery/transportation proofs, and other contemporaneous records, despite large payments and subsequent receipt of funds back from suppliers, supported an inference of non-genuine transactions and intent to defraud creditors; circumstantial evidence can establish liability of those managing the business. The plea of denial of natural justice failed because notice, opportunity to respond, and hearing were granted, and the allegations and forensic findings were unrebutted. The impugned order was affirmed and the appeal dismissed. en-us Thu, 11 Dec 2025 00:00:00 +0530 Wed, 24 Dec 2025 07:51:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783851 Managing directors of the corporate debtor challenged an order directing contribution to the corporate debtor's assets under s.66(1) IBC for alleged fraudulent trading involving round-tripping and sham purchases. The NCLAT held that the absence of invoices, delivery/transportation proofs, and other contemporaneous records, despite large payments and subsequent receipt of funds back from suppliers, supported an inference of non-genuine transactions and intent to defraud creditors; circumstantial evidence can establish liability of those managing the business. The plea of denial of natural justice failed because notice, opportunity to respond, and hearing were granted, and the allegations and forensic findings were unrebutted. The impugned order was affirmed and the appeal dismissed. Case-Laws IBC Thu, 11 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783851