Case Law Analysis
|National Company Law Appellate Tribunal
Circumstantial evidence enough for fraudulent trading under Sec 66 IBC | ₹17.23 crore director liability upheld : NCLAT
NCLAT held that circumstantial evidence of removed hypothecated machinery suffices to prove fraudulent trading under Sec 66 IBC, upholding ₹17.23 crore liability against suspended directors, noting a single asset swap can trigger Sec 66 liability in context.