https://www.taxtmi.com/caselaws?id=372196 The Tribunal determined that the amounts claimed by the Financial Creditors were loans, not investments, and that the debt was not discharged. The application was found maintainable, and the Tribunal had jurisdiction despite the pending Civil Suit. Consequently, the Tribunal admitted the petition, initiating the Corporate Insolvency Resolution Process (CIRP) against the Debtor, appointed an Interim Resolution Professional (IRP), and ordered the commencement of the moratorium as prescribed under Section 14 of the IBC. en-us Tue, 23 Oct 2018 00:00:00 +0530 Wed, 19 Dec 2018 08:07:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372196 The Tribunal determined that the amounts claimed by the Financial Creditors were loans, not investments, and that the debt was not discharged. The application was found maintainable, and the Tribunal had jurisdiction despite the pending Civil Suit. Consequently, the Tribunal admitted the petition, initiating the Corporate Insolvency Resolution Process (CIRP) against the Debtor, appointed an Interim Resolution Professional (IRP), and ordered the commencement of the moratorium as prescribed under Section 14 of the IBC. Case-Laws Insolvency and Bankruptcy Tue, 23 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372196