https://www.taxtmi.com/caselaws?id=301561 An avoidance application must be filed within the Regulation 35A timeline and confined to the statutory look-back period under Section 46 of the Insolvency and Bankruptcy Code. Here, the tribunal found the application time-barred, as the resolution professional did not satisfactorily show when the required opinion and determination were formed, and the lease deed relied on fell outside the two-year period before commencement of CIRP. A separate plea of fraudulent transaction under Section 66 also failed because fraud was not specifically pleaded or supported by material, and the allegation appeared to be raised to bypass the statutory timeline. The application was therefore not maintainable and was rejected on merits as well. en-us Fri, 26 Feb 2021 00:00:00 +0530 Fri, 08 Apr 2022 21:01:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301561 An avoidance application must be filed within the Regulation 35A timeline and confined to the statutory look-back period under Section 46 of the Insolvency and Bankruptcy Code. Here, the tribunal found the application time-barred, as the resolution professional did not satisfactorily show when the required opinion and determination were formed, and the lease deed relied on fell outside the two-year period before commencement of CIRP. A separate plea of fraudulent transaction under Section 66 also failed because fraud was not specifically pleaded or supported by material, and the allegation appeared to be raised to bypass the statutory timeline. The application was therefore not maintainable and was rejected on merits as well. Case-Laws Insolvency and Bankruptcy Fri, 26 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301561