https://www.taxtmi.com/caselaws?id=426081 The Tribunal dismissed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, as lacking merit. Despite claims by the Financial Creditor against the Corporate Debtor for non-repayment of an interest-free loan, discrepancies in evidence and lack of acknowledgment by the Corporate Debtor led to the dismissal. The Tribunal found the adjustment made by the Corporate Debtor towards interest on loans to separate entities as mala fide and contrary to accounting standards. The application was deemed unsustainable, and costs were not awarded. en-us Thu, 28 Jul 2022 00:00:00 +0530 Mon, 08 Aug 2022 09:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426081 The Tribunal dismissed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, as lacking merit. Despite claims by the Financial Creditor against the Corporate Debtor for non-repayment of an interest-free loan, discrepancies in evidence and lack of acknowledgment by the Corporate Debtor led to the dismissal. The Tribunal found the adjustment made by the Corporate Debtor towards interest on loans to separate entities as mala fide and contrary to accounting standards. The application was deemed unsustainable, and costs were not awarded. Case-Laws Insolvency and Bankruptcy Thu, 28 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426081