• COURTNCLAT Principal Bench
• TITLE/CORAM AASHISH KADAM AND ANR. v. NAGPUR NAGARIK SHAKARI BANK LTD. AND ANR. Chairperson Ashok Bhushan
  Technical Member Dr. Alok Srivastava
  Technical Member Shreesha Merla
  Company Appeal (AT) Insolvency No. 355 of 2022

In an appeal where the appellant submitted that the Facility Agreement was not stamped and on account of the document not being stamped, the same could not have been relied upon while passing an order under Section 7 of IBC the Appellate Tribunal has held that if a credit facility agreement is unstamped, then petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 ("IBC") can be admitted based on other material on the record which prove the existence of a financial debt.