The National Company Law Tribunal (NCLT) Mumbai bench of Justice V.G Bisht, (Retd). and Prabhat Kumar (Technical Member ) has held that even in the absence of a NeSL certificate, an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 can be admitted if the disbursal of the loan amount and occurrence of default are established through other reliable and relevant documents.
Brief Facts:
The Corporate Debtor was incorporated on 01.10.2015 under the provisions of the Limited Liability Partnership Act, 2008, and is registered with the Registrar of Companies, Pune. 5. The Corporate Debtor availed multiple credit facilities from Canara Bank under the category of Advances against Supply Bills for trading…
