https://www.taxtmi.com/caselaws?id=449524 Proceedings under Section 340 CrPC require a substantiated basis for concluding that false evidence or offences against public justice warrant inquiry, and the record here did not justify such action or dismissal of the Section 7 insolvency case. Penalty under Section 65 IBC applies only where insolvency is initiated fraudulently or with malicious intent, and allegations against homebuyers were insufficient to show such misuse of process. An objection founded on the later affidavit attributed to Ajay Khajuria also did not provide a reliable ground to disturb the rejection of the interlocutory applications or interfere with continuation of the insolvency proceedings. en-us Mon, 29 Jan 2024 00:00:00 +0530 Tue, 13 Feb 2024 19:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449524 Proceedings under Section 340 CrPC require a substantiated basis for concluding that false evidence or offences against public justice warrant inquiry, and the record here did not justify such action or dismissal of the Section 7 insolvency case. Penalty under Section 65 IBC applies only where insolvency is initiated fraudulently or with malicious intent, and allegations against homebuyers were insufficient to show such misuse of process. An objection founded on the later affidavit attributed to Ajay Khajuria also did not provide a reliable ground to disturb the rejection of the interlocutory applications or interfere with continuation of the insolvency proceedings. Case-Laws Insolvency and Bankruptcy Mon, 29 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449524