https://www.taxtmi.com/caselaws?id=379603 The Tribunal determined that the Appellant was a financial creditor, not an operational creditor, due to the transformation of a construction project transaction into a financial debt when the project was abandoned and interest payments were made. The Tribunal found the Appellant's application under Section 7 of the Insolvency and Bankruptcy Code valid, emphasizing that the existence of disputes, including pending civil suits, did not preclude the initiation of Corporate Insolvency Resolution Process (CIRP). The Tribunal directed the Adjudicating Authority to admit the Appellant's application, setting aside the previous rejection order. en-us Tue, 19 Mar 2019 00:00:00 +0530 Sat, 04 May 2019 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379603 The Tribunal determined that the Appellant was a financial creditor, not an operational creditor, due to the transformation of a construction project transaction into a financial debt when the project was abandoned and interest payments were made. The Tribunal found the Appellant's application under Section 7 of the Insolvency and Bankruptcy Code valid, emphasizing that the existence of disputes, including pending civil suits, did not preclude the initiation of Corporate Insolvency Resolution Process (CIRP). The Tribunal directed the Adjudicating Authority to admit the Appellant's application, setting aside the previous rejection order. Case-Laws Insolvency and Bankruptcy Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379603