https://www.taxtmi.com/caselaws?id=790603 No dues certificates and charge-satisfaction letters addressed to the Registrar of Companies did not prove that all bank liabilities had been discharged, especially where several charges remained outstanding. NeSL entries for only one account could not displace authenticated records showing default in other loan accounts. Financial statements recorded non-payment of bank dues and classified the loans as non-performing assets, while acknowledgements and restructuring requests further supported the existence of financial debt and default. At the Section 7 admission stage, the Adjudicating Authority needed only a prima facie showing, and the record supported that finding. The challenge to admission therefore failed. en-us Thu, 23 Apr 2026 00:00:00 +0530 Mon, 27 Apr 2026 11:06:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790603 No dues certificates and charge-satisfaction letters addressed to the Registrar of Companies did not prove that all bank liabilities had been discharged, especially where several charges remained outstanding. NeSL entries for only one account could not displace authenticated records showing default in other loan accounts. Financial statements recorded non-payment of bank dues and classified the loans as non-performing assets, while acknowledgements and restructuring requests further supported the existence of financial debt and default. At the Section 7 admission stage, the Adjudicating Authority needed only a prima facie showing, and the record supported that finding. The challenge to admission therefore failed. Case-Laws IBC Thu, 23 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790603