https://www.taxtmi.com/caselaws?id=284270 The High Court upheld the NCLT's decision to initiate Corporate Insolvency Resolution Process against respondent no. 3, dismissing the petitioner's writ petition seeking to quash the orders. The court emphasized minimal judicial interference in IBC proceedings, stating that the order's uncontested nature did not make it collusive. The court advised the petitioner to pursue remedies under Section 65 of IBC for fraudulent initiation of proceedings and suggested excluding assets acquired through e-auction from insolvency. The judgment underscores adherence to legal procedures and the availability of legal remedies within the framework of the law. en-us Thu, 27 Sep 2018 00:00:00 +0530 Sat, 09 Nov 2019 06:27:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284270 The High Court upheld the NCLT's decision to initiate Corporate Insolvency Resolution Process against respondent no. 3, dismissing the petitioner's writ petition seeking to quash the orders. The court emphasized minimal judicial interference in IBC proceedings, stating that the order's uncontested nature did not make it collusive. The court advised the petitioner to pursue remedies under Section 65 of IBC for fraudulent initiation of proceedings and suggested excluding assets acquired through e-auction from insolvency. The judgment underscores adherence to legal procedures and the availability of legal remedies within the framework of the law. Case-Laws Insolvency and Bankruptcy Thu, 27 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284270