https://www.taxtmi.com/caselaws?id=381754 The Tribunal dismissed the petition filed by a sole proprietary concern under the Insolvency and Bankruptcy Code, 2016, as the concern did not meet the criteria of a "person" as defined in the Code. The Tribunal held that a sole proprietorship firm, not recognized as a legal entity, cannot maintain legal proceedings in its own name. Emphasizing the need to adhere to legal definitions and precedents, the Tribunal highlighted the importance of ensuring the eligibility of entities to initiate legal proceedings, particularly in insolvency cases. en-us Fri, 08 Mar 2019 00:00:00 +0530 Wed, 19 Jun 2019 06:47:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381754 The Tribunal dismissed the petition filed by a sole proprietary concern under the Insolvency and Bankruptcy Code, 2016, as the concern did not meet the criteria of a "person" as defined in the Code. The Tribunal held that a sole proprietorship firm, not recognized as a legal entity, cannot maintain legal proceedings in its own name. Emphasizing the need to adhere to legal definitions and precedents, the Tribunal highlighted the importance of ensuring the eligibility of entities to initiate legal proceedings, particularly in insolvency cases. Case-Laws Insolvency and Bankruptcy Fri, 08 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381754