MoU & Ledger Extract Insufficient for admitting Financial Debt: NCLAT

D S Kulkarni & Associates Vs Manoj Kumar Aggarwal (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT) in Delhi recently ruled on a case involving D S Kulkarni & Associates and Manoj Kumar Aggarwal. The crux of the matter revolved around the admissibility of claims as financial debts based on Memorandum of Understanding (MoU) and Ledger Extracts. Analysis: The Appeals were filed challenging the rejection of claims by the National Company Law Tribunal (NCLT), Mumbai Bench-I. The Appellants, D S Kulkarni & Associates and D S Kulkarni & Company, sought to substantiate...