https://www.taxtmi.com/caselaws?id=771570 A finding of fraudulent or malicious initiation under Section 65 of the Insolvency and Bankruptcy Code requires clear material and a proper appreciation of the record. The discussion notes that executed loan and guarantee documents, repeated renewals, revival letters, balance confirmations, and later acknowledgments of liability supported the bank's claim, while the guaranty was treated as continuing in nature. It also states that adverse observations against the bank could not stand where the material was not fairly assessed and the reasoning did not adequately support findings of mala fides or abuse of process. The appeal was reported as succeeding, with the impugned order set aside. en-us Fri, 23 May 2025 00:00:00 +0530 Wed, 28 May 2025 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771570 A finding of fraudulent or malicious initiation under Section 65 of the Insolvency and Bankruptcy Code requires clear material and a proper appreciation of the record. The discussion notes that executed loan and guarantee documents, repeated renewals, revival letters, balance confirmations, and later acknowledgments of liability supported the bank's claim, while the guaranty was treated as continuing in nature. It also states that adverse observations against the bank could not stand where the material was not fairly assessed and the reasoning did not adequately support findings of mala fides or abuse of process. The appeal was reported as succeeding, with the impugned order set aside. Case-Laws IBC Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771570