Debt and Default Proven with Corroborative Evidence: NCLAT upholds Proceedings against Corporate Debtor u/s 7 of IBC [Read Order]

By Yogitha S. Yogesh - On May 30, 2023 4:30 pm - 2 mins read
Debt and Default Proven with Corroborative Evidence: NCLAT upholds Proceedings against Corporate Debtor u/s 7 of IBC - TAX SCAN

The Principal Bench of the National Company Law Appellate Tribunal(NCLAT) upheld the proceedings against Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code (IBC) as the debt and default were proven with corroborative evidence. The appeal was filed by the Promoter of the Corporate Debtor – M/s Renaissance Indus Infra Pvt. Ltd. challenging…

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