https://www.taxtmi.com/caselaws?id=393709 The Court found the writ petition not maintainable due to the suppression of vital information by the Managing Director regarding the appointment of an Interim Resolution Professional and subsequent liquidation of the company. The petition seeking benefits under a circular issued by the Reserve Bank of India was dismissed due to lack of funds and discrepancies. The Managing Director's deliberate concealment of facts and misleading information provided to the Court and the liquidator led to the dismissal of the petition. Despite arguments for revival, the Court emphasized transparency and honesty, ultimately dismissing the petition for lack of disclosure and misleading actions. en-us Fri, 14 Feb 2020 00:00:00 +0530 Sat, 21 Mar 2020 11:45:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393709 The Court found the writ petition not maintainable due to the suppression of vital information by the Managing Director regarding the appointment of an Interim Resolution Professional and subsequent liquidation of the company. The petition seeking benefits under a circular issued by the Reserve Bank of India was dismissed due to lack of funds and discrepancies. The Managing Director's deliberate concealment of facts and misleading information provided to the Court and the liquidator led to the dismissal of the petition. Despite arguments for revival, the Court emphasized transparency and honesty, ultimately dismissing the petition for lack of disclosure and misleading actions. Case-Laws Insolvency and Bankruptcy Fri, 14 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393709