https://www.taxtmi.com/caselaws?id=347735 The Tribunal dismissed both petitions filed by the Operational Creditor against the Corporate Debtor for defaulting on payments, citing the lack of enforceable agreements and the non-applicability of Section 238 of the Insolvency and Bankruptcy Code to override SEBI's order. The Tribunal held that the claims were not valid under the Code as they stemmed from illegal agreements related to unregistered Collective Investment Schemes. The petitions were dismissed without costs, and the Registry was instructed to notify the parties and SEBI of the decision within seven days. en-us Sat, 29 Jul 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347735 The Tribunal dismissed both petitions filed by the Operational Creditor against the Corporate Debtor for defaulting on payments, citing the lack of enforceable agreements and the non-applicability of Section 238 of the Insolvency and Bankruptcy Code to override SEBI's order. The Tribunal held that the claims were not valid under the Code as they stemmed from illegal agreements related to unregistered Collective Investment Schemes. The petitions were dismissed without costs, and the Registry was instructed to notify the parties and SEBI of the decision within seven days. Case-Laws Insolvency and Bankruptcy Sat, 29 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347735