Suspended Director Cannot Dispute Debt After Invoking Insolvency on Same Default

Rakeshkumar Hariram Agarwal Vs State Bank of India & Ors. (NCLAT Delhi) The National Company Law Appellate Tribunal, Delhi Bench, dismissed a batch of appeals filed by a suspended director challenging orders of the Adjudicating Authority that upheld the admission of State Bank of India’s claim and rejected objections raised against it. The appeals arose from proceedings in which the Corporate Debtor itself had initiated insolvency under Section 10 of the Insolvency and Bankruptcy Code, 2016. The Section 10 application was admitted on 09.09.2025. In the application, the suspended director...