https://www.taxtmi.com/caselaws?id=800191 Fraud or collusion in jurisdictional facts, including an illusory operational debt, invalidates the basis for admitting a Section 9 corporate insolvency resolution process and permits the Adjudicating Authority to recall admission by dismissing the application. Once admitted, however, CIRP becomes a collective in rem process involving the moratorium, insolvency professional, creditor claims and Committee of Creditors. Continuance is not automatically barred merely because the initiating application was fraudulent. After excluding the collusive applicant, the Adjudicating Authority may assess the resolution professional's submissions, the Committee of Creditors' commercial wisdom, stakeholder interests, and whether the process can continue with integrity and transparency. en-us Wed, 30 Sep 2026 00:00:00 +0530 Sat, 03 Oct 2026 09:32:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800191 Fraud or collusion in jurisdictional facts, including an illusory operational debt, invalidates the basis for admitting a Section 9 corporate insolvency resolution process and permits the Adjudicating Authority to recall admission by dismissing the application. Once admitted, however, CIRP becomes a collective in rem process involving the moratorium, insolvency professional, creditor claims and Committee of Creditors. Continuance is not automatically barred merely because the initiating application was fraudulent. After excluding the collusive applicant, the Adjudicating Authority may assess the resolution professional's submissions, the Committee of Creditors' commercial wisdom, stakeholder interests, and whether the process can continue with integrity and transparency. Case-Laws IBC Wed, 30 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800191