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Absence of Entries Not Proof of Fraud; NCLT Upholds Strict Proof Standard Under Section 66
Case Law Details
- Case Name
- Kizhakkekkara Kuriakose Jose Vs A.D. Krishnan (NCLT Kochi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Kizhakkekkara Kuriakose Jose Vs A.D. Krishnan (NCLT Kochi)
The application before the National Company Law Tribunal (NCLT), Kochi Bench, was filed by the Liquidator of a corporate debtor under Section 66(1) of the Insolvency and Bankruptcy Code, 2016, seeking recovery of ₹30,00,000 with interest from the suspended Managing Director on allegations of fraudulent trading and diversion of funds.
The Liquidator contended that the corporate debtor had received ₹50,00,000 under an agreement for sale of a mortgaged property, out of which only ₹20,00,000 was reflected in the books of account, whi...
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