https://www.taxtmi.com/caselaws?id=375872 The Tribunal dismissed the petition as the petitioners, claiming to be 'financial creditors,' failed to establish a default by the corporate debtor. The Tribunal found that the petitioners did not fulfill their obligations as per the agreements, leading to the amount not being due and payable. Consequently, the requirements of Section 7(5) of the Insolvency and Bankruptcy Code were not met, resulting in the dismissal of the petition. en-us Wed, 02 Jan 2019 00:00:00 +0530 Wed, 27 Feb 2019 06:57:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375872 The Tribunal dismissed the petition as the petitioners, claiming to be 'financial creditors,' failed to establish a default by the corporate debtor. The Tribunal found that the petitioners did not fulfill their obligations as per the agreements, leading to the amount not being due and payable. Consequently, the requirements of Section 7(5) of the Insolvency and Bankruptcy Code were not met, resulting in the dismissal of the petition. Case-Laws Insolvency and Bankruptcy Wed, 02 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375872