IBC - Initiation of CIRP - Financial Creditors - There is no denial of...

Insolvency and Bankruptcy

Initiation of CIRP - Financial Creditors - There is no denial of transfer of the amount by Bank transfer in the account of the Corporate Debtor. When disbursement of the loan is not even denied, the cry of the Appellant that loan Agreement was forged, has no weight. Further, the Adjudicating Authority has also relied on record of Financial Information in Form C in support of establishing default. - There were sufficient materials before the Adjudicating Authority to accept the debt and default and no error has been committed in admitting Section 7 Application - AT

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