https://www.taxtmi.com/caselaws?id=449720 Where material issues affecting maintainability of a section 7 insolvency petition are not properly framed or decided, including whether applicants are speculative investors or allottees, the validity of authorisation, stamp duty compliance, locus, and the minimum threshold under the Insolvency and Bankruptcy Code, the dismissal cannot stand on an incomplete record. The appellate tribunal found that these questions went to the root of the petition and required a reasoned determination after hearing both sides. The matter was therefore remitted for de novo consideration, with liberty to raise all factual and legal objections before the adjudicating authority. en-us Thu, 15 Feb 2024 00:00:00 +0530 Mon, 19 Feb 2024 05:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449720 Where material issues affecting maintainability of a section 7 insolvency petition are not properly framed or decided, including whether applicants are speculative investors or allottees, the validity of authorisation, stamp duty compliance, locus, and the minimum threshold under the Insolvency and Bankruptcy Code, the dismissal cannot stand on an incomplete record. The appellate tribunal found that these questions went to the root of the petition and required a reasoned determination after hearing both sides. The matter was therefore remitted for de novo consideration, with liberty to raise all factual and legal objections before the adjudicating authority. Case-Laws Insolvency and Bankruptcy Thu, 15 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449720