https://www.taxtmi.com/caselaws?id=381694 The court addressed the validity of an insolvency application filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 by 'Ricoh India Limited' without involving any lender as a party. The judgment emphasized the importance of shareholder approval for such applications, based on the Articles of Association. It distinguished between cases requiring specific shareholder decisions and those where the Board of Directors had independent decision-making authority. The appeal challenging the original decision was dismissed for lack of merit, with no costs awarded. en-us Tue, 14 May 2019 00:00:00 +0530 Tue, 18 Jun 2019 05:47:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381694 The court addressed the validity of an insolvency application filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 by 'Ricoh India Limited' without involving any lender as a party. The judgment emphasized the importance of shareholder approval for such applications, based on the Articles of Association. It distinguished between cases requiring specific shareholder decisions and those where the Board of Directors had independent decision-making authority. The appeal challenging the original decision was dismissed for lack of merit, with no costs awarded. Case-Laws Insolvency and Bankruptcy Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381694