NCLT Directs RP to Admit Union Bank's Rs 27.48 Cr Claim

The NCLT allowed Union Bank's application, directing the resolution professional to admit its Rs 27.48 crore claim in the Frost International insolvency.
The Tribunal held the claim was within limitation due to a Singapore court decree and that insufficient stamp duty is a curable defect.
The Tribunal set aside the RP's rejection, ruling the corporate guarantee was valid and the claim must be admitted.