Balance sheet entries are reliable evidence of existence of financial debt

Subhash Chander Chauhan Vs Kaliber Associates Private Limited (NCLAT Delhi) NCLAT Delhi held that balance sheet entries are reliable evidence of existence of financial debt. Accordingly, since debt and default against Corporate Debtor established, admission of application u/s. 7 of IBC justified. Facts- This Appeal is being filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 against the Impugned Order dated 14.02.2025 by National Company Law Tribunal. The Appellant is Suspended Director of Corporate Debtor (CD) (West Star Constructions Pvt. Ltd.) and was admitted into insolvenc...