https://www.taxtmi.com/caselaws?id=196619 The court dismissed the petition under section 9 of the Insolvency and Bankruptcy Code, 2016 due to the pending civil suit for recovery of outstanding debt. The judgment emphasized that the purpose of the insolvency petition was distinct from the recovery suit and highlighted the potential for forum shopping. It was concluded that the Petitioner could pursue recovery through the civil suit without resorting to insolvency proceedings, underscoring the importance of procedural adherence and the limitations on seeking insolvency relief in the presence of parallel civil actions. en-us Tue, 25 Jul 2017 00:00:00 +0530 Tue, 11 Jan 2022 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196619 The court dismissed the petition under section 9 of the Insolvency and Bankruptcy Code, 2016 due to the pending civil suit for recovery of outstanding debt. The judgment emphasized that the purpose of the insolvency petition was distinct from the recovery suit and highlighted the potential for forum shopping. It was concluded that the Petitioner could pursue recovery through the civil suit without resorting to insolvency proceedings, underscoring the importance of procedural adherence and the limitations on seeking insolvency relief in the presence of parallel civil actions. Case-Laws Companies Law Tue, 25 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196619