https://www.taxtmi.com/caselaws?id=353389 The tribunal classified the amounts advanced by the applicant to the corporate debtor as "financial debt" under the Insolvency and Bankruptcy Code. The tribunal directed the inclusion of the applicant in the Committee of Creditors as a financial creditor, emphasizing adherence to the criteria under the Code. Disputes over Cash Calls/Joint Interest Bills were acknowledged, with the tribunal highlighting the debtor's liability despite quantum disputes. It clarified that the RP and COC lack jurisdiction to adjudicate creditor claims, emphasizing their role in facilitating the resolution process. The decision stressed the need for competent courts to resolve claim disputes and outlined guidelines for determining the applicant's voting share in the COC. en-us Mon, 27 Nov 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353389 The tribunal classified the amounts advanced by the applicant to the corporate debtor as "financial debt" under the Insolvency and Bankruptcy Code. The tribunal directed the inclusion of the applicant in the Committee of Creditors as a financial creditor, emphasizing adherence to the criteria under the Code. Disputes over Cash Calls/Joint Interest Bills were acknowledged, with the tribunal highlighting the debtor's liability despite quantum disputes. It clarified that the RP and COC lack jurisdiction to adjudicate creditor claims, emphasizing their role in facilitating the resolution process. The decision stressed the need for competent courts to resolve claim disputes and outlined guidelines for determining the applicant's voting share in the COC. Case-Laws Insolvency and Bankruptcy Mon, 27 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353389