Appeal dismissed; IRP complied with Section 18 IBC; creditor's claim rejected for lack of strong evidence and accounting entries

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....NCLAT dismissed the appeal and upheld the Adjudicating Authority's rejection of the operational creditor's claim. The Tribunal held that the IRP fulfilled his statutory duty under Section 18 IBC and relevant CIRP Regulations to collect and verify claims, and that prima facie absence of entries in the corporate debtor's books of account, lack of cogent evidence showing allocation of expenses to the corporate debtor alone, and unexplained allotment of flats/inventories to the creditor cast doubt on the asserted debt. The engagement letter and ancillary documents did not dispel these doubts, and the appellant failed to furnish necessary particulars; accordingly the appeal is devoid of merit and is dismissed.....