Financial Creditor mandatorily needs to prove disbursement as defined u/s. 5(8)(f) of IBC

Advertisement Dr. Anupam Jain Vs CS Chhaya Gupta (NCLAT Delhi) NCLAT Delhi held that appellant doesn’t qualify as a Financial Creditor since appellant has failed to discharge the burden of proving any disbursement as defined under Section 5(8)(f) of the Insolvency and Bankruptcy Code. Accordingly, order upheld and appeal dismissed. Facts- The present Appeal has been filed by the Appellant being aggrieved by the Impugned Order dated 11.11.2024 passed by the Hon’ble National Company Law Tribunal, Indore Bench. By the said order, the Adjudicating Authority dismissed the Appellant’s appl...