https://www.taxtmi.com/caselaws?id=399937 A Section 65 allegation of fraudulent or malicious initiation failed because the record showed repeated acknowledgements of liability, payment-seeking communications, and no material supporting fraud or collusion; the connected group company's impleadment was also found not maintainable. The Section 7 petition was admitted because financial debt, default from multiple dates, completion of the application, and filing within limitation were established through the account statement and credit information. As a result, the corporate insolvency resolution process was initiated against the corporate debtor, with appointment of an interim resolution professional and moratorium to follow. en-us Thu, 04 Jun 2020 00:00:00 +0530 Fri, 23 Oct 2020 14:59:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399937 A Section 65 allegation of fraudulent or malicious initiation failed because the record showed repeated acknowledgements of liability, payment-seeking communications, and no material supporting fraud or collusion; the connected group company's impleadment was also found not maintainable. The Section 7 petition was admitted because financial debt, default from multiple dates, completion of the application, and filing within limitation were established through the account statement and credit information. As a result, the corporate insolvency resolution process was initiated against the corporate debtor, with appointment of an interim resolution professional and moratorium to follow. Case-Laws Insolvency and Bankruptcy Thu, 04 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399937