https://www.taxtmi.com/caselaws?id=396286 Pendency of SARFAESI enforcement measures does not bar a financial creditor from initiating or continuing a section 7 insolvency application under the Insolvency and Bankruptcy Code, as the Code's overriding effect permits parallel remedies where debt and default are otherwise established. Simultaneous invocation of SARFAESI and insolvency remedies, by itself, does not amount to forum shopping or to fraudulent or malicious initiation, and mere disclosure of prior SARFAESI action is not suppression of material facts. The order under comment states that section 65 is not attracted on these facts, and the contrary view was rejected. en-us Wed, 26 Feb 2020 00:00:00 +0530 Mon, 29 Jun 2020 09:25:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396286 Pendency of SARFAESI enforcement measures does not bar a financial creditor from initiating or continuing a section 7 insolvency application under the Insolvency and Bankruptcy Code, as the Code's overriding effect permits parallel remedies where debt and default are otherwise established. Simultaneous invocation of SARFAESI and insolvency remedies, by itself, does not amount to forum shopping or to fraudulent or malicious initiation, and mere disclosure of prior SARFAESI action is not suppression of material facts. The order under comment states that section 65 is not attracted on these facts, and the contrary view was rejected. Case-Laws Insolvency and Bankruptcy Wed, 26 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396286