https://www.taxtmi.com/caselaws?id=422947 A personal insolvency application under the Insolvency and Bankruptcy Code was rejected where the record showed that recovery proceedings against the corporate debtor, the personal guarantor and other guarantors were already pending, including SARFAESI action and proceedings before the DRT. The Tribunal held that the application appeared to be filed to obstruct recovery and to take unfair advantage of the interim moratorium under Section 96, so it lacked bona fides and was not fit for admission. en-us Fri, 13 May 2022 00:00:00 +0530 Thu, 26 May 2022 08:42:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422947 A personal insolvency application under the Insolvency and Bankruptcy Code was rejected where the record showed that recovery proceedings against the corporate debtor, the personal guarantor and other guarantors were already pending, including SARFAESI action and proceedings before the DRT. The Tribunal held that the application appeared to be filed to obstruct recovery and to take unfair advantage of the interim moratorium under Section 96, so it lacked bona fides and was not fit for admission. Case-Laws Insolvency and Bankruptcy Fri, 13 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422947