https://www.taxtmi.com/caselaws?id=797656 Section 10 CIRP applications must represent a bona fide effort at insolvency resolution and may be rejected where surrounding conduct shows a malicious attempt to obstruct creditor recovery. Missing hypothecated plant and machinery, absence of supporting fixed-asset records, lack of meaningful receivables or immovable assets, and filing after recovery measures can demonstrate abuse of the moratorium process. Financial penalties for fraudulent conduct require recorded reasons addressing the nature and magnitude of misconduct and must satisfy proportionality. A penalty lacking such justification requires recalibration to a proportionate level. en-us Tue, 25 Aug 2026 00:00:00 +0530 Wed, 26 Aug 2026 08:27:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797656 Section 10 CIRP applications must represent a bona fide effort at insolvency resolution and may be rejected where surrounding conduct shows a malicious attempt to obstruct creditor recovery. Missing hypothecated plant and machinery, absence of supporting fixed-asset records, lack of meaningful receivables or immovable assets, and filing after recovery measures can demonstrate abuse of the moratorium process. Financial penalties for fraudulent conduct require recorded reasons addressing the nature and magnitude of misconduct and must satisfy proportionality. A penalty lacking such justification requires recalibration to a proportionate level. Case-Laws IBC Tue, 25 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797656