Decided on 1 May 2023 | Supreme Court of India In a significant legal development, the Supreme Court of India, in Sanket Kumar Agarwal v. APG Logistics Private Limited, has …
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In Shibu Job Cheeran v. Mr. Ashok Velamur Seshadri, the National Company Law Appellate Tribunal observed that it must be proven that the former directors of the corporate debtor were aware of the company’s insolvency but continued to conduct business with ulterior motives in order to demonstrate the fraudulent purpose under Section 66 of the Insolvency and Bankruptcy Code, 2016.
