https://www.taxtmi.com/caselaws?id=403345 The tribunal in CP 2556/2019 allowed IA 1266/2020, directing Respondent No.1 (R1) to repay Rs. 1,19,08,05,762 to the Corporate Debtor's account. R1, along with Respondent Nos. 2 and 3, was found liable for fraudulent transactions and wrongful trading under Section 66 of the Insolvency and Bankruptcy Code. The case emphasized issues of non-cooperation by directors, misrepresentation of ledger accounts, and the classification of related parties, ultimately holding the respondents accountable for their fraudulent actions. en-us Thu, 07 Jan 2021 00:00:00 +0530 Wed, 27 Jan 2021 10:13:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403345 The tribunal in CP 2556/2019 allowed IA 1266/2020, directing Respondent No.1 (R1) to repay Rs. 1,19,08,05,762 to the Corporate Debtor's account. R1, along with Respondent Nos. 2 and 3, was found liable for fraudulent transactions and wrongful trading under Section 66 of the Insolvency and Bankruptcy Code. The case emphasized issues of non-cooperation by directors, misrepresentation of ledger accounts, and the classification of related parties, ultimately holding the respondents accountable for their fraudulent actions. Case-Laws Insolvency and Bankruptcy Thu, 07 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403345