https://www.taxtmi.com/caselaws?id=372356 The tribunal dismissed the application filed by the Corporate Applicant under Section 10 of the Insolvency & Bankruptcy Code, 2016, as it failed to prove default in payment of financial debts and was found to have filed the application with malicious intent to defraud creditors. The change in the company's name and registered office was viewed as an attempt to deceive creditors. Additionally, the non-production of a special resolution rendered the application non-maintainable. Operational creditors and shareholders were allowed intervening applications, with each party bearing their respective costs. en-us Thu, 15 Nov 2018 00:00:00 +0530 Fri, 21 Dec 2018 06:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372356 The tribunal dismissed the application filed by the Corporate Applicant under Section 10 of the Insolvency & Bankruptcy Code, 2016, as it failed to prove default in payment of financial debts and was found to have filed the application with malicious intent to defraud creditors. The change in the company's name and registered office was viewed as an attempt to deceive creditors. Additionally, the non-production of a special resolution rendered the application non-maintainable. Operational creditors and shareholders were allowed intervening applications, with each party bearing their respective costs. Case-Laws Insolvency and Bankruptcy Thu, 15 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372356