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Showing contexts for: backdated agreements in Arun Kumar Bag vs Yogesh Gupta on 18 December, 2024Matching Fragments
25. The Respondent No. 1 emphasised that the Appellant's alleged claims arise from illegal and sham transaction, created solely to gain positions in the CoC. The Respondent No. 1 elaborated that the loan agreements are characterized as backdated and intended to undermine the objectives of the Code and defeat legal CIRP process. The Respondent No. 1 pleaded that allowing the Appellants into the CoC would contravene provisions of the Code, as the loans were purportedly given in cash after critical order about admission of the CIRP was reserved on 02.08.2022 by the Adjudicating Authority.