NCLT Chennai dismissed a Section 7 IBC plea, holding that a loan paid to a director’s personal account is not a company’s financial debt without proof of corporate borrowing or use of funds for its business.
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![Loan Paid To Director’s Personal Account Is Not Company’s Financial Debt: NCLT Chennai [Read Order]](/secure/uploads/2026/09/lj_2121_ChatGPT_Image_Sep_11,_2026,_01_49_44_AM.webp)
