https://www.taxtmi.com/caselaws?id=279188 The Appellate Tribunal ruled in favor of Andhra Bank, recognizing it as a 'Financial Creditor' due to its counter-indemnity obligation from the Corporate Debtor. The Tribunal emphasized the broad interpretation of 'Financial Debt' under the Insolvency and Bankruptcy Code, allowing Andhra Bank to participate in the Resolution Process as a member of the Committee of Creditors. The Tribunal directed the Adjudicating Authority to exclude the pending appeal period from the 270-day timeline and instructed the Resolution Professional to proceed with the approved Resolution Plan. The appeal was allowed with specific directions given to the parties involved. en-us Fri, 13 Jul 2018 00:00:00 +0530 Thu, 07 Mar 2019 06:33:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279188 The Appellate Tribunal ruled in favor of Andhra Bank, recognizing it as a 'Financial Creditor' due to its counter-indemnity obligation from the Corporate Debtor. The Tribunal emphasized the broad interpretation of 'Financial Debt' under the Insolvency and Bankruptcy Code, allowing Andhra Bank to participate in the Resolution Process as a member of the Committee of Creditors. The Tribunal directed the Adjudicating Authority to exclude the pending appeal period from the 270-day timeline and instructed the Resolution Professional to proceed with the approved Resolution Plan. The appeal was allowed with specific directions given to the parties involved. Case-Laws Insolvency and Bankruptcy Fri, 13 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279188