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NCLT Order for Payment to Corporate Debtor Upheld; No Evidence of Fund Transfer to Sister Concern Found.

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....Validity of order of NCLT giving direction to pay the dues to the ‘Corporate Debtor’ - In the absence of any concrete evidence on record that the amounts were indeed transferred to the Sister Concern, nor any acceptance letter by the Corporate Debtor, agreeing to such transfer, and also having regard to the fact that there is no denial by the Appellant herein with respect to the actual transactions, having been executed, we do not see any illegality or infirmity in the Impugned Order. - AT....

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NCLT Order for Payment to Corporate Debtor Upheld; No Evidence of Fund Transfer to Sister Concern Found.