Section 66 of IBC ingredients proved as intention to defraud creditors established

Rana Sarkar Vs Bimal Agarwal (NCLAT Delhi)

NCLAT Delhi held that intention to defraud creditors of Corporate Debtor was based on documentary evidence, accordingly, all the ingredients under section 66 of the Insolvency and Bankruptcy Code are attracted. Thus, appeal lacks merits and hence dismissed.

Facts- The instant appeal has been preferred by the appellant under Section 61 of the Insolvency and Bankruptcy Code, 2016 against the impugned order date 14.07.2022 passed by National Company Law Tribunal whereby the application moved under Section 66 of the Co

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