https://www.taxtmi.com/caselaws?id=198360 The tribunal dismissed the petition under Section 9 of the Insolvency and Bankruptcy Code, emphasizing that the Code is not intended for debt recovery but for genuine insolvency cases. The debtor's financial health, substantial assets, and net worth of Rs. 24,000 crore indicated no insolvency. The tribunal advised the creditor to pursue other legal remedies for debt recovery, highlighting the distinction between insolvency proceedings and debt disputes. en-us Wed, 29 Mar 2017 00:00:00 +0530 Mon, 12 Feb 2018 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198360 The tribunal dismissed the petition under Section 9 of the Insolvency and Bankruptcy Code, emphasizing that the Code is not intended for debt recovery but for genuine insolvency cases. The debtor's financial health, substantial assets, and net worth of Rs. 24,000 crore indicated no insolvency. The tribunal advised the creditor to pursue other legal remedies for debt recovery, highlighting the distinction between insolvency proceedings and debt disputes. Case-Laws Insolvency and Bankruptcy Wed, 29 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198360