Vedika Steels Private Limited (Operational Creditor) filed an application under Section 9 of the IBC, 2016, against Adarsh Global Trades & Services Pvt Ltd (Corporate Debtor) for a claim of Rs. 8,98,91,694. Notices were sent to the respondent, and the respondent was declared ex-parte. The operational creditor primarily relied on a ledger account statement from its own books. The Adjudicating Authority noted a pending application (IA No. 323/2019) involving fraudulent transactions where both parties were arrayed as respondents. The operational creditor failed to furnish invoices, purchase orders, or any acknowledgment from the corporate debtor to prove the debt. The operational creditor also failed to provide any documentary evidence issued by the corporate debtor

Vedika Steels Private Limited (Operational Creditor) filed an application under Section 9 of the IBC, 2016, against Adarsh Global Trades & Services Pvt Ltd (Corporate Debtor) for a claim of Rs. 8,98,91,694. Notices were sent to the respondent, and the respondent was declared ex-parte. The operational creditor primarily relied on a ledger account statement from its own books. The Adjudicating Authority noted a pending application (IA No. 323/2019) involving fraudulent transactions where both parties were arrayed as respondents. The operational creditor failed to furnish invoices, purchase orders, or any acknowledgment from the corporate debtor to prove the debt. The operational creditor also failed to provide any documentary evidence issued by the corporate debtor