https://www.taxtmi.com/caselaws?id=362025 The Tribunal set aside the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, ruling that the respondent did not qualify as a 'Financial Creditor'. As the respondent had been fully repaid, the proceedings were closed, and actions taken by the Interim Resolution Professional were deemed illegal. The corporate debtor was released from legal constraints, enabling independent operation through its Board of Directors. The appeal was allowed without costs. en-us Tue, 01 May 2018 00:00:00 +0530 Tue, 19 Jun 2018 09:24:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362025 The Tribunal set aside the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, ruling that the respondent did not qualify as a 'Financial Creditor'. As the respondent had been fully repaid, the proceedings were closed, and actions taken by the Interim Resolution Professional were deemed illegal. The corporate debtor was released from legal constraints, enabling independent operation through its Board of Directors. The appeal was allowed without costs. Case-Laws Insolvency and Bankruptcy Tue, 01 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362025