Settlement Agreement Between Parties Merely Acknowledging & Structuring Repayment Doesn't Change Nature Of Debt: NCLT Mumbai

The NCLT, Mumbai, has ruled that a "settlement agreement between parties merely acknowledging and structuring repayment" "doesn't change the nature of the debt." The court's decision, which is a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a company can be held responsible for the misdeeds of another person. The court's decision is a crucial reminder to all that they must be diligent in their dealings.