https://www.taxtmi.com/caselaws?id=428399 A section 7 IBC application may be declined where the creditor has already substantially recovered its dues through SARFAESI enforcement and the remaining balance has been tendered by the corporate debtor. The analysis emphasizes that admission under section 7 is not a mechanical exercise and should not be used predominantly as a recovery tool when the facts indicate substantial prior realization, the debtor remains a going concern, and the balance dues have not been accepted despite tender. On those facts, the petition was not admitted and was dismissed. en-us Tue, 27 Sep 2022 00:00:00 +0530 Fri, 30 Sep 2022 09:36:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428399 A section 7 IBC application may be declined where the creditor has already substantially recovered its dues through SARFAESI enforcement and the remaining balance has been tendered by the corporate debtor. The analysis emphasizes that admission under section 7 is not a mechanical exercise and should not be used predominantly as a recovery tool when the facts indicate substantial prior realization, the debtor remains a going concern, and the balance dues have not been accepted despite tender. On those facts, the petition was not admitted and was dismissed. Case-Laws Insolvency and Bankruptcy Tue, 27 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428399