https://www.taxtmi.com/caselaws?id=441213 A resolution applicant's earnest money deposit in insolvency resolution proceedings may be refunded where the process documents require return to an unsuccessful applicant and forfeiture is not supported by proof of false or misleading representation. The cited forfeiture principle was found inapplicable on the stated facts, and Regulation 36B of the CIRP Regulations was noted as not creating a non-refundable deposit requirement for submitting a resolution plan. Allegations made in the refund application were also found insufficient to justify expunging the pleadings. The deposit was directed to be returned with accrued interest. en-us Wed, 02 Aug 2023 00:00:00 +0530 Fri, 04 Aug 2023 07:48:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441213 A resolution applicant's earnest money deposit in insolvency resolution proceedings may be refunded where the process documents require return to an unsuccessful applicant and forfeiture is not supported by proof of false or misleading representation. The cited forfeiture principle was found inapplicable on the stated facts, and Regulation 36B of the CIRP Regulations was noted as not creating a non-refundable deposit requirement for submitting a resolution plan. Allegations made in the refund application were also found insufficient to justify expunging the pleadings. The deposit was directed to be returned with accrued interest. Case-Laws Insolvency and Bankruptcy Wed, 02 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441213