https://www.taxtmi.com/caselaws?id=200090 A complete Section 10 insolvency application must be assessed only on the statutory requirements of debt, default, full disclosure in the prescribed form, and ineligibility under Section 11 of the Insolvency and Bankruptcy Code, 2016. Pending SARFAESI proceedings against the corporate debtor, or disputes involving third-party guarantors, are not by themselves grounds to reject admission. Facts not required to be disclosed under the Code or the prescribed form cannot be treated as suppression of material facts unless they affect statutory ineligibility. On that approach, rejection based on SARFAESI proceedings and alleged non-disclosure of unrelated facts was unsustainable. en-us Wed, 13 Dec 2017 00:00:00 +0530 Tue, 20 Mar 2018 07:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200090 A complete Section 10 insolvency application must be assessed only on the statutory requirements of debt, default, full disclosure in the prescribed form, and ineligibility under Section 11 of the Insolvency and Bankruptcy Code, 2016. Pending SARFAESI proceedings against the corporate debtor, or disputes involving third-party guarantors, are not by themselves grounds to reject admission. Facts not required to be disclosed under the Code or the prescribed form cannot be treated as suppression of material facts unless they affect statutory ineligibility. On that approach, rejection based on SARFAESI proceedings and alleged non-disclosure of unrelated facts was unsustainable. Case-Laws Insolvency and Bankruptcy Wed, 13 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200090