Application u/s. 95 of IBC dismissed as claim of debt not proved: NCLT Kochi

Canara Bank Vs Smt. Valsala T S (NCLT Kochi) NCLT Kochi dismissed the application filed by the Financial Creditor under section 95 of the Insolvency and Bankruptcy Code in as much as the claim of debt against personal guarantor not proved. Accordingly, since claimed debt remained unverified, hypothetical and disputed, the application is rightly dismissed. Facts- These Company Petitions are filed by the Financial Creditor, Canara Bank, Asset-Recovery Management Branch u/s. 95 of the Insolvency & Bankruptcy Code, 2016 read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjud...