https://www.taxtmi.com/caselaws?id=427196 The SC allowed the Civil Appeal, overturning the Appellate Tribunal's dismissal of the Section 7 application under the IBC, 2016, due to lack of independent assessment. The case was remanded for reconsideration. The conversion of a loan into equity without the Appellant's consent was deemed improper, and the prior order was set aside, with the matter remanded to the Adjudicating Authority for further proceedings. The judgment underscored the necessity of consent and documentation in loan-to-equity conversions. The Appellant's appeal succeeded, emphasizing procedural propriety and consent in financial agreements. en-us Thu, 01 Sep 2022 00:00:00 +0530 Thu, 22 Feb 2024 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427196 The SC allowed the Civil Appeal, overturning the Appellate Tribunal's dismissal of the Section 7 application under the IBC, 2016, due to lack of independent assessment. The case was remanded for reconsideration. The conversion of a loan into equity without the Appellant's consent was deemed improper, and the prior order was set aside, with the matter remanded to the Adjudicating Authority for further proceedings. The judgment underscored the necessity of consent and documentation in loan-to-equity conversions. The Appellant's appeal succeeded, emphasizing procedural propriety and consent in financial agreements. Case-Laws Insolvency and Bankruptcy Thu, 01 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427196