https://www.taxtmi.com/caselaws?id=432507 The Appellate Tribunal upheld the NCLT's decision to dismiss the Company Petition filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, due to fraudulent and malicious intent. The Tribunal found that the Corporate Debtor's actions, including incomplete construction and director resignations, indicated an attempt to evade liabilities. Additionally, the Tribunal determined that the application did not comply with Section 10A and was filed to escape responsibilities. The appeal was dismissed, affirming the NCLT's order to reject the Section 10 application. en-us Thu, 05 Jan 2023 00:00:00 +0530 Sat, 07 Jan 2023 08:48:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432507 The Appellate Tribunal upheld the NCLT's decision to dismiss the Company Petition filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, due to fraudulent and malicious intent. The Tribunal found that the Corporate Debtor's actions, including incomplete construction and director resignations, indicated an attempt to evade liabilities. Additionally, the Tribunal determined that the application did not comply with Section 10A and was filed to escape responsibilities. The appeal was dismissed, affirming the NCLT's order to reject the Section 10 application. Case-Laws Insolvency and Bankruptcy Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432507