https://www.taxtmi.com/caselaws?id=465777 Despite an alternative statutory remedy under s.61 IBC, the HC held that the maintainability objection must be raised at the earliest stage; since the revision had been admitted and interim stay granted long earlier, relegating the petitioner to the alternate remedy would be unjust, and the petition was entertained. On the dominant issue of alleged fraudulent/malicious initiation of CIRP based on purportedly forged records, the HC held that the Adjudicating Authority can enquire into fraud only under s.65 IBC and that the consequence of fraudulent initiation is confined to the monetary penalty under s.65; the Tribunal's failure to exercise this jurisdiction caused manifest injustice, and its order was set aside. en-us Mon, 12 Feb 2024 00:00:00 +0530 Thu, 08 Jan 2026 21:13:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465777 Despite an alternative statutory remedy under s.61 IBC, the HC held that the maintainability objection must be raised at the earliest stage; since the revision had been admitted and interim stay granted long earlier, relegating the petitioner to the alternate remedy would be unjust, and the petition was entertained. On the dominant issue of alleged fraudulent/malicious initiation of CIRP based on purportedly forged records, the HC held that the Adjudicating Authority can enquire into fraud only under s.65 IBC and that the consequence of fraudulent initiation is confined to the monetary penalty under s.65; the Tribunal's failure to exercise this jurisdiction caused manifest injustice, and its order was set aside. Case-Laws IBC Mon, 12 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465777