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2019 (10) TMI 695 - AT - Insolvency and BankruptcyAdmissibility of application - initiation of CIRP - Section 10 of the ‘Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The impugned order dated 15th March, 2019 is against the provision of law and cannot be sustained. It is not in dispute that the application filed under Section 10 is without approval of the ‘Annual General Meeting’ / ‘Extra-Ordinary General Meeting’. Simultaneously a plan was submitted which is against the provision of Section 65 of the I&B Code as it appears that it is filed with malicious intent for any purpose other than for the resolution of insolvency and liquidation. For this reason, we set aside the impugned order dated 15th March, 2019. The petition under Section 10 of the I&B Code filed in ‘Form 6’ is dismissed.
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