MoU and Ledger Extract Insufficient Proof for admitting Financial Debt Claim: NCLAT

MoU and ledger extract insufficient proof for admitting financial debt claim, rules NCLAT
NCLAT - National Company Law Appellate Tribunal - Financial Debt Claim - Memorandum of Understanding - MoU - Taxscan

The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that MoU and ledger extract is insufficient proof for admitting financial debt claim. The Adjudicating Authority held that CIRP order was passed on 26.09.2019, the Resolution Plan was duly approved by the CoC on 13.08.2021 and the Application has been…

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