https://www.taxtmi.com/caselaws?id=440685 The Appellate Tribunal upheld the Adjudicating Authority's decision, finding the transactions between the Appellant and the Corporate Debtor fraudulent under Section 66 of the Insolvency & Bankruptcy Code, 2016. The Tribunal determined that the transactions, involving a significant sum of Rs. 41.03 crores, were suspicious and not in line with normal commercial practices. The Appellant's failure to cooperate and the lack of a forensic audit further supported the finding of fraud. As a result, the Tribunal ordered the Appellant to repay the amount to the Corporate Debtor, affirming the lower court's decision. en-us Wed, 29 Mar 2023 00:00:00 +0530 Mon, 24 Jul 2023 22:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440685 The Appellate Tribunal upheld the Adjudicating Authority's decision, finding the transactions between the Appellant and the Corporate Debtor fraudulent under Section 66 of the Insolvency & Bankruptcy Code, 2016. The Tribunal determined that the transactions, involving a significant sum of Rs. 41.03 crores, were suspicious and not in line with normal commercial practices. The Appellant's failure to cooperate and the lack of a forensic audit further supported the finding of fraud. As a result, the Tribunal ordered the Appellant to repay the amount to the Corporate Debtor, affirming the lower court's decision. Case-Laws Insolvency and Bankruptcy Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440685