NCLAT Dismisses Appeal Due to Lack of Evidence of Fraudulent Transaction

Ashok Kumar Agarwal Vs Narayan Chandra Saha & Ors. (NCLAT Delhi) In Ashok Kumar Agarwal vs Narayan Chandra Saha & Ors., the National Company Law Appellate Tribunal (NCLAT), Delhi, examined an appeal against the order of the Adjudicating Authority (NCLT Kolkata) dated 10.12.2024, which had rejected an application filed by the Liquidator under Section 66 of the Insolvency and Bankruptcy Code, 2016. The case involved a transaction where the Corporate Debtor was to receive ₹37.50 lakhs from Orient Exports Pvt. Ltd. Instead of cash repayment, the dues were settled through the transfer of ...