https://www.taxtmi.com/caselaws?id=769490 NCLAT dismissed an appeal challenging rejection of Section 9 application for initiating CIRP. The tribunal found serious doubts about genuineness of the operational creditor's claim, noting purchase orders were signed by third parties rather than the debtor company's authorized personnel. Evidence suggested fabrication of documents and collusion between the creditor and company officials. The intervener (director's wife) raised credible allegations of forged signatures and document manipulation. NCLAT concluded the petition was filed for ulterior motives to settle personal and matrimonial disputes rather than legitimate insolvency proceedings. The adjudicating authority's imposition of Rs. 10 lakhs costs for filing frivolous petition was upheld. en-us Wed, 23 Apr 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769490 NCLAT dismissed an appeal challenging rejection of Section 9 application for initiating CIRP. The tribunal found serious doubts about genuineness of the operational creditor's claim, noting purchase orders were signed by third parties rather than the debtor company's authorized personnel. Evidence suggested fabrication of documents and collusion between the creditor and company officials. The intervener (director's wife) raised credible allegations of forged signatures and document manipulation. NCLAT concluded the petition was filed for ulterior motives to settle personal and matrimonial disputes rather than legitimate insolvency proceedings. The adjudicating authority's imposition of Rs. 10 lakhs costs for filing frivolous petition was upheld. Case-Laws IBC Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769490