https://www.taxtmi.com/caselaws?id=784408 Whether an application seeking initiation of proceedings under s.65 IBC could be dismissed independently of the pending s.7 IBC insolvency application. The Appellate Tribunal held that the s.65 plea, alleging fraudulent or malicious initiation, should be kept open and adjudicated by the Adjudicating Authority contemporaneously with determination of the s.7 application, particularly when an application for substitution of the financial creditor by an assignee was also pending. Consequently, the impugned order dismissing the s.65 application was set aside, the application was revived, and it was directed to be heard along with the substitution application at the time of final decision on the s.7 petition. en-us Tue, 23 Sep 2025 00:00:00 +0530 Mon, 05 Jan 2026 08:04:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784408 Whether an application seeking initiation of proceedings under s.65 IBC could be dismissed independently of the pending s.7 IBC insolvency application. The Appellate Tribunal held that the s.65 plea, alleging fraudulent or malicious initiation, should be kept open and adjudicated by the Adjudicating Authority contemporaneously with determination of the s.7 application, particularly when an application for substitution of the financial creditor by an assignee was also pending. Consequently, the impugned order dismissing the s.65 application was set aside, the application was revived, and it was directed to be heard along with the substitution application at the time of final decision on the s.7 petition. Case-Laws IBC Tue, 23 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784408