Books of account cannot be treated as acknowledgement of liability in respect of debt payable to a Financial Creditor: SC

Asset Reconstruction Company Vs Tulip Star Hotels Limited & Ors. (Supreme Court)

Subject: Judgment¹ dated 1^st August, 2022 of the Hon’ble Supreme Court of India in the matter of Asset Reconstruction Company (India) Limited Vs. Tulip Star Hotels Limited & Ors. [Civil Appeal Nos. 84-85 of 2020]

The Hon’ble Supreme Court in its judgment dated 1^st August, 2022 while allowing the appeal observed that the NCLAT erred in law in holding that th

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