https://www.taxtmi.com/caselaws?id=296791 The Tribunal dismissed the Liquidator's application seeking contributions from the Respondents to the assets of the Corporate Debtor, M/s Southern Online Bio Technologies Limited. The Tribunal found that the transactions in question were commercially justifiable, with no established fraud or malafide intent. It was noted that the write-offs of bad debts were within the commercial wisdom of the Company and did not preclude future recovery efforts. Therefore, the Liquidator's request for contributions was denied, and the application was disposed of without directing the Respondents to make any contributions to the Corporate Debtor's assets. en-us Thu, 11 Jun 2020 00:00:00 +0530 Sat, 07 Aug 2021 08:49:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296791 The Tribunal dismissed the Liquidator's application seeking contributions from the Respondents to the assets of the Corporate Debtor, M/s Southern Online Bio Technologies Limited. The Tribunal found that the transactions in question were commercially justifiable, with no established fraud or malafide intent. It was noted that the write-offs of bad debts were within the commercial wisdom of the Company and did not preclude future recovery efforts. Therefore, the Liquidator's request for contributions was denied, and the application was disposed of without directing the Respondents to make any contributions to the Corporate Debtor's assets. Case-Laws Insolvency and Bankruptcy Thu, 11 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296791