https://www.taxtmi.com/caselaws?id=295485 The court dismissed the petition filed under Section 7 of the Insolvency and Bankruptcy Code, finding it was filed fraudulently with malicious intent. Show cause notices were issued against the petitioner Financial Creditors under Section 65 of the IBC. The court emphasized that the IBC should not be used in cases of financial fraud, especially when it involves public interest and retail investors. The order was communicated to SEBI and the Central Government, with further proceedings scheduled for August 7, 2018. en-us Thu, 05 Jul 2018 00:00:00 +0530 Mon, 07 Jun 2021 08:35:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295485 The court dismissed the petition filed under Section 7 of the Insolvency and Bankruptcy Code, finding it was filed fraudulently with malicious intent. Show cause notices were issued against the petitioner Financial Creditors under Section 65 of the IBC. The court emphasized that the IBC should not be used in cases of financial fraud, especially when it involves public interest and retail investors. The order was communicated to SEBI and the Central Government, with further proceedings scheduled for August 7, 2018. Case-Laws Insolvency and Bankruptcy Thu, 05 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295485