https://www.taxtmi.com/caselaws?id=409218 The Adjudicating Authority rejected the petition under Section 7 of the Insolvency and Bankruptcy Code despite meeting all legal requirements, due to suspicions of collusion and malicious intent between the Financial Creditor and the Corporate Debtor. The Authority emphasized the need to prevent misuse of the insolvency process, citing Section 65 of the IBC. The decision was upheld on appeal, with no costs awarded. en-us Wed, 30 Jun 2021 00:00:00 +0530 Fri, 02 Jul 2021 08:59:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409218 The Adjudicating Authority rejected the petition under Section 7 of the Insolvency and Bankruptcy Code despite meeting all legal requirements, due to suspicions of collusion and malicious intent between the Financial Creditor and the Corporate Debtor. The Authority emphasized the need to prevent misuse of the insolvency process, citing Section 65 of the IBC. The decision was upheld on appeal, with no costs awarded. Case-Laws Insolvency and Bankruptcy Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409218