https://www.taxtmi.com/caselaws?id=471083 Allegations of fraud in financing, collateral-security and insolvency-related transactions warranted prima facie examination where the valuation report indicated inconsistency between promised financial assistance, the amount released and the later demand for additional collateral. No final determination of fraud was made, but the circumstances could potentially disclose a cognizable offence. The amendment application was allowed, notices were issued in the main and interim-relief proceedings, and temporary protection restrained creation of third-party interests in the additional mortgaged security and coercive recovery action against the directors. en-us Fri, 06 May 2022 00:00:00 +0530 Thu, 20 Aug 2026 12:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471083 Allegations of fraud in financing, collateral-security and insolvency-related transactions warranted prima facie examination where the valuation report indicated inconsistency between promised financial assistance, the amount released and the later demand for additional collateral. No final determination of fraud was made, but the circumstances could potentially disclose a cognizable offence. The amendment application was allowed, notices were issued in the main and interim-relief proceedings, and temporary protection restrained creation of third-party interests in the additional mortgaged security and coercive recovery action against the directors. Case-Laws IBC Fri, 06 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471083