2024 INSC 810 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL No. 1031 of 2022 VIDYASAGAR PRASAD … APPELLANT(S) VERSUS UCO BANK & ANR. …RESPONDENT(S) J U D G M E N T PAMIDIGHANTAM SRI NARASIMHA, J. 1. By the present appeal, the suspended director of the Corporate Debtor assails the order of the NCLAT1 affirming the order of the Adjudicating Authority2 admitting the application under Section 7 of IBC3 for initiating CIRP4 proceedings against the Corporate Debtor. 2. The undisputed facts before us are that the Corporate Debtor (respondent No. 2 herein), now represented by its Insolvency Resolution Professional (IRP), availed loan and credit facilities from 1 National Company Law Appellate Tribunal in Company Appeal (AT) (Insolvency) No. 238 of 2020, dated 04.10.2021. 2 Adjudicating Authority/National Company Law Tribunal, Kolkata Bench, Kolkata order dated 13.12.2019 in CP No. 254/KB/2019. 3 Insolvency and Bankruptcy Code, 2016. 4 Corporate Insolvency