https://www.taxtmi.com/caselaws?id=343694 The Tribunal dismissed the petition as the petitioners could not be categorized as 'Operational Creditors' under section 9 of the Insolvency and Bankruptcy Code. The debt in question, related to delayed possession of immovable property, did not meet the criteria for operational debt. The judgment emphasized the importance of adhering to statutory requirements for initiating insolvency proceedings and clarified that the dismissal would not prejudice the petitioner's rights before any other forum. en-us Fri, 31 Mar 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343694 The Tribunal dismissed the petition as the petitioners could not be categorized as 'Operational Creditors' under section 9 of the Insolvency and Bankruptcy Code. The debt in question, related to delayed possession of immovable property, did not meet the criteria for operational debt. The judgment emphasized the importance of adhering to statutory requirements for initiating insolvency proceedings and clarified that the dismissal would not prejudice the petitioner's rights before any other forum. Case-Laws Insolvency and Bankruptcy Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343694