The case involves appeals against the admission of a Section 7 application under the Insolvency and Bankruptcy Code (IBC) by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) against Mack Star Marketing Private Limited. The appeals challenge the order admitting the application filed by Suraksha Asset Reconstruction Limited, the assignee of loans originally given by Yes Bank. The core issue revolves around allegations of fraudulent transactions and collusion between Yes Bank, HDIL (Housing Development Infrastructure Limited), and Mack Star, where loans were allegedly sanctioned and disbursed with an ulterior motive, primarily to evergreen the stressed loans of HDIL. The appellants argue that the loans were never used for their intended purpose and

The case involves appeals against the admission of a Section 7 application under the Insolvency and Bankruptcy Code (IBC) by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) against Mack Star Marketing Private Limited. The appeals challenge the order admitting the application filed by Suraksha Asset Reconstruction Limited, the assignee of loans originally given by Yes Bank. The core issue revolves around allegations of fraudulent transactions and collusion between Yes Bank, HDIL (Housing Development Infrastructure Limited), and Mack Star, where loans were allegedly sanctioned and disbursed with an ulterior motive, primarily to evergreen the stressed loans of HDIL. The appellants argue that the loans were never used for their intended purpose and