https://www.taxtmi.com/caselaws?id=352021 The Tribunal dismissed the petition as the petitioner did not qualify as a 'Financial Creditor' under the Insolvency and Bankruptcy Code, 2016, and the subscription money advanced for shares did not meet the criteria for a 'Financial Debt'. The petitioner was found not entitled to initiate Corporate Insolvency Resolution Process or seek remedies under the Share Subscription Agreement and Companies Act, 2013. The dismissal did not preclude the petitioner from pursuing other legal avenues, and each party was instructed to bear their respective costs. en-us Fri, 10 Nov 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352021 The Tribunal dismissed the petition as the petitioner did not qualify as a 'Financial Creditor' under the Insolvency and Bankruptcy Code, 2016, and the subscription money advanced for shares did not meet the criteria for a 'Financial Debt'. The petitioner was found not entitled to initiate Corporate Insolvency Resolution Process or seek remedies under the Share Subscription Agreement and Companies Act, 2013. The dismissal did not preclude the petitioner from pursuing other legal avenues, and each party was instructed to bear their respective costs. Case-Laws Insolvency and Bankruptcy Fri, 10 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352021