https://www.taxtmi.com/caselaws?id=346959 The tribunal found that the appellants qualified as 'Financial Creditors' under the Insolvency & Bankruptcy Code as their arrangement with the respondent constituted a 'financial debt.' The tribunal ruled that the appellants' application for triggering the insolvency process under Section 7 of the Code was maintainable despite pending winding-up petitions against the 'Corporate Debtor.' The tribunal set aside the previous order and remitted the matter to the adjudicating authority for further proceedings, allowing the appellants time to complete their application if needed. The appeal was allowed without costs. en-us Fri, 21 Jul 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346959 The tribunal found that the appellants qualified as 'Financial Creditors' under the Insolvency & Bankruptcy Code as their arrangement with the respondent constituted a 'financial debt.' The tribunal ruled that the appellants' application for triggering the insolvency process under Section 7 of the Code was maintainable despite pending winding-up petitions against the 'Corporate Debtor.' The tribunal set aside the previous order and remitted the matter to the adjudicating authority for further proceedings, allowing the appellants time to complete their application if needed. The appeal was allowed without costs. Case-Laws Insolvency and Bankruptcy Fri, 21 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346959