https://www.taxtmi.com/caselaws?id=403627 The Tribunal allowed the impleadment of M/s. Inkel Limited as an additional Corporate Debtor in the application under Section 9 of the Insolvency and Bankruptcy Code. Inkel Limited was held liable for the debts and liabilities of the Corporate Debtor based on its controlling stake acquisition and active involvement in managing the company, supported by relevant case law. The decision aligned with the interpretation that joint applications under the IBC can be maintained against collaborating Corporate Debtors, justifying Inkel Limited's inclusion in the ongoing insolvency proceedings. en-us Thu, 26 Nov 2020 00:00:00 +0530 Thu, 04 Feb 2021 08:32:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403627 The Tribunal allowed the impleadment of M/s. Inkel Limited as an additional Corporate Debtor in the application under Section 9 of the Insolvency and Bankruptcy Code. Inkel Limited was held liable for the debts and liabilities of the Corporate Debtor based on its controlling stake acquisition and active involvement in managing the company, supported by relevant case law. The decision aligned with the interpretation that joint applications under the IBC can be maintained against collaborating Corporate Debtors, justifying Inkel Limited's inclusion in the ongoing insolvency proceedings. Case-Laws Insolvency and Bankruptcy Thu, 26 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403627