https://www.taxtmi.com/caselaws?id=199173 The Tribunal rejected the application for insolvency resolution under Section 10 of the Insolvency Bankruptcy Code, 2016, emphasizing the need for proper justification and evidence of unpaid claims before resorting to insolvency proceedings. The judgment highlighted that the legislative intention behind the Code was not to provide an easy escape route for companies and Directors facing financial difficulties, stressing the importance of a thorough assessment to prevent misuse of the insolvency resolution process. en-us Mon, 15 May 2017 00:00:00 +0530 Wed, 21 Feb 2018 21:18:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199173 The Tribunal rejected the application for insolvency resolution under Section 10 of the Insolvency Bankruptcy Code, 2016, emphasizing the need for proper justification and evidence of unpaid claims before resorting to insolvency proceedings. The judgment highlighted that the legislative intention behind the Code was not to provide an easy escape route for companies and Directors facing financial difficulties, stressing the importance of a thorough assessment to prevent misuse of the insolvency resolution process. Case-Laws Companies Law Mon, 15 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199173