https://www.taxtmi.com/caselaws?id=799193 Pending intervention under Section 60(5) alleging collusive initiation of insolvency proceedings must be determined before final adjudication of a financial creditor's Section 7 petition where the applicant asserts likely prejudice to proprietary interests. Procedural fairness may require prior determination when the corporate debtor's non-participation could affect the applicant's rights in a sugar factory and its assets. The intervention application is to be decided within three months, if still pending, before any final order on the company petition. en-us Thu, 17 Sep 2026 00:00:00 +0530 Fri, 18 Sep 2026 07:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799193 Pending intervention under Section 60(5) alleging collusive initiation of insolvency proceedings must be determined before final adjudication of a financial creditor's Section 7 petition where the applicant asserts likely prejudice to proprietary interests. Procedural fairness may require prior determination when the corporate debtor's non-participation could affect the applicant's rights in a sugar factory and its assets. The intervention application is to be decided within three months, if still pending, before any final order on the company petition. Case-Laws IBC Thu, 17 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799193