https://www.taxtmi.com/caselaws?id=386848 The Tribunal dismissed the appeal challenging the admission of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. It upheld the validity of the 'Corporate Guarantee and Undertaking' Agreement, despite allegations of fraud and its absence from the Registrar of Companies' records. The Tribunal emphasized the broad definition of default and debt, referencing the Supreme Court's observations in "Innoventive Industries Ltd. Vs. ICICI Bank." It concluded that the agreement's existence, supported by e-Stamp, justified the Adjudicating Authority's decision. The Tribunal noted that pre-existing disputes should be resolved under Section 9, not Section 7. en-us Tue, 01 Oct 2019 00:00:00 +0530 Fri, 08 Nov 2024 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386848 The Tribunal dismissed the appeal challenging the admission of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. It upheld the validity of the 'Corporate Guarantee and Undertaking' Agreement, despite allegations of fraud and its absence from the Registrar of Companies' records. The Tribunal emphasized the broad definition of default and debt, referencing the Supreme Court's observations in "Innoventive Industries Ltd. Vs. ICICI Bank." It concluded that the agreement's existence, supported by e-Stamp, justified the Adjudicating Authority's decision. The Tribunal noted that pre-existing disputes should be resolved under Section 9, not Section 7. Case-Laws IBC Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386848