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Home Highlights December 2022 Year 2022 This

Initiation of CIRP - inter corporate deposit - Proof of debt - ...

Insolvency and Bankruptcy

December 15, 2022

Initiation of CIRP - inter corporate deposit - Proof of debt - Appellant failed to produce any proof of the RTGS by way of bank statement indicating that the amount has in fact been transferred from its account to the account of the Corporate Debtor - the intercorporate deposit is a loan is not substantiated by the Appellant - NCLT rightly dismissed the application - AT

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