https://www.taxtmi.com/caselaws?id=355934 An application under Section 10 of the Insolvency and Bankruptcy Code must be assessed on the statutory requirements, the disclosures in Form 6, and the ineligibility grounds under Section 11. Rejection cannot rest on extraneous considerations unrelated to corporate insolvency resolution, and the mere pendency of SARFAESI proceedings is not, by itself, a ground to refuse a complete application under Section 10; any such proceedings would instead be affected by the moratorium on admission. In the absence of any winding up or liquidation order, the corporate applicant remained eligible to seek commencement of insolvency proceedings, and rejection on unrelated grounds was unsustainable. en-us Fri, 12 Jan 2018 00:00:00 +0530 Tue, 20 Feb 2018 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355934 An application under Section 10 of the Insolvency and Bankruptcy Code must be assessed on the statutory requirements, the disclosures in Form 6, and the ineligibility grounds under Section 11. Rejection cannot rest on extraneous considerations unrelated to corporate insolvency resolution, and the mere pendency of SARFAESI proceedings is not, by itself, a ground to refuse a complete application under Section 10; any such proceedings would instead be affected by the moratorium on admission. In the absence of any winding up or liquidation order, the corporate applicant remained eligible to seek commencement of insolvency proceedings, and rejection on unrelated grounds was unsustainable. Case-Laws Insolvency and Bankruptcy Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355934