https://www.taxtmi.com/caselaws?id=397513 A Section 7 insolvency application filed by the husband of an erstwhile director raised a related-party objection under Section 65 of the Insolvency and Bankruptcy Code, with the status of the applicant going to the legality of his participation in the process. The note records that deferring a final finding on the related-party allegation while allowing voting rights to be reworked affected the constitution of the Committee of Creditors and the secured financial creditor's voting strength. It treats timely adjudication of the fraud and related-party objections as essential to the integrity of the corporate insolvency resolution process and states that the impugned order could not be sustained. en-us Fri, 22 May 2020 00:00:00 +0530 Fri, 21 Aug 2020 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397513 A Section 7 insolvency application filed by the husband of an erstwhile director raised a related-party objection under Section 65 of the Insolvency and Bankruptcy Code, with the status of the applicant going to the legality of his participation in the process. The note records that deferring a final finding on the related-party allegation while allowing voting rights to be reworked affected the constitution of the Committee of Creditors and the secured financial creditor's voting strength. It treats timely adjudication of the fraud and related-party objections as essential to the integrity of the corporate insolvency resolution process and states that the impugned order could not be sustained. Case-Laws Insolvency and Bankruptcy Fri, 22 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397513