Contribution to assets of corporate debtor upheld as business of Corporate Debtor carried to defraud creditors

Swapan Kumar Saha Vs Ashok Kumar Agarwa (NCLAT Delhi)

NCLAT Delhi upholds order of Adjudicating Authority directing contribution to the assets of corporate debtor since it is clearly established that business of corporate debtor was carried on with intent to defraud creditors of corporate debtor.

Facts- The present appeal has been filed u/s. 61 of the Insolvency and Bankruptcy Code, 2016 by the Appellant challenging the judgment and/or order dated December 10, 2024 passed by the National Company Law Tribunal.

AA vide the Impugned Order had partly all

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