Written agreement not mandatory to prove existence of financial debt

Bijendra Prasad Mishra Vs HS Mercantile Pvt. Ltd. (NCLAT Delhi)

NCLAT Delhi Held that a written agreement is not a condition precedent to prove the existence of a financial debt. Accordingly, CIRP application u/s. 7 of IBC duly admitted as debt and default proved.

Facts- The instant appeal is preferred against the impugned order dated 13.12.2024 passed by the National Company Law Tribunal, Kolkata Bench (Court-I) whereby application moved by Respondent No. 2 under Section 7 of the IBC has been accepted and CIRP is initiated against Respondent No. 1/Corporate

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