Amounts Reflected In Corporate Debtor's Records Can't Be Rejected Even If No Formal Claims Are Filed Before Resolution Professional: NCLT Mumbai

The NCLT (National Company Law Tribunal) Mumbai bench has ruled that "amounts reflected in a corporate debtor's records can't be rejected even if no formal claims are filed before the Resolution Professional." This decision provides significant relief to creditors, particularly statutory bodies, whose dues are clearly recorded in the corporate debtor's books of accounts at the time of insolvency commencement. The tribunal emphasized that the Resolution Professional has a duty to verify claims from the corporate debtor's records, and the absence of a formal claim submission should not automatically lead to rejection if the debt is evident from the debtor's own books.