The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member) has held that making belated entries in the books of account to show that goods were misappropriated cannot escape the conclusion that the dispute raised by the corporate debtor was merely a moonshine just to avoid the liability.
Brief Facts
The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 (‘IBC’ in short) by the Appellant arises out of the Order dated 06.12.2023 (hereinafter referred to as ‘Impugned Order’) passed by the Adjudicating Authority.
By the impugned order, the Adjudicating Authority has admitted the Section 9 application filed by the Operational Creditor and admitted…
