Case of Rana Sagar vs Bimal Agarwal, NCLAT Delhi Judgement Dated 11th December 2025. The appellate tribunal held that intention to defraud creditors of Corporate Debtor was based on documentary evidence, accordingly, all the ingredients under section 66 of IBC are attracted. Section 66 deals with fraudulent or wrongful trading, empowering the Adjudicating Authority (NCLT) to hold individuals personally liable for contributions to a company’s assets if they knowingly carried on business with intent to defraud creditors or failed due diligence, causing loss to creditors during CIRP or liquidation.