https://www.taxtmi.com/caselaws?id=379942 The tribunal rejected the petition to initiate Corporate Insolvency Resolution Process (CIRP) against the respondent due to the time-barred and disputed nature of the debt claim. It was found that the petition was primarily aimed at debt recovery rather than genuine CIRP initiation. The tribunal emphasized that the Insolvency and Bankruptcy Code should not be misused for debt recovery purposes and allowed the petitioner to pursue remedies under other laws for debt recovery. No costs were awarded in this case. en-us Thu, 21 Mar 2019 00:00:00 +0530 Fri, 10 May 2019 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379942 The tribunal rejected the petition to initiate Corporate Insolvency Resolution Process (CIRP) against the respondent due to the time-barred and disputed nature of the debt claim. It was found that the petition was primarily aimed at debt recovery rather than genuine CIRP initiation. The tribunal emphasized that the Insolvency and Bankruptcy Code should not be misused for debt recovery purposes and allowed the petitioner to pursue remedies under other laws for debt recovery. No costs were awarded in this case. Case-Laws Insolvency and Bankruptcy Thu, 21 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379942