https://www.taxtmi.com/caselaws?id=282258 The petition filed by Vyomit Shares Stock & Investment Private Limited under Section 10 of the Insolvency and Bankruptcy Code was dismissed as it was found to be not maintainable. The tribunal concluded that the debts owed to SEBI and BSE were regulatory dues, not operational debts, and that the petitioner had adequate financial resources to meet these obligations. The application was seen as an attempt to avoid regulatory dues, and therefore, declaring the Corporate Applicant insolvent would not serve any beneficial purpose. en-us Tue, 12 Feb 2019 00:00:00 +0530 Mon, 29 Jul 2019 20:43:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282258 The petition filed by Vyomit Shares Stock & Investment Private Limited under Section 10 of the Insolvency and Bankruptcy Code was dismissed as it was found to be not maintainable. The tribunal concluded that the debts owed to SEBI and BSE were regulatory dues, not operational debts, and that the petitioner had adequate financial resources to meet these obligations. The application was seen as an attempt to avoid regulatory dues, and therefore, declaring the Corporate Applicant insolvent would not serve any beneficial purpose. Case-Laws Insolvency and Bankruptcy Tue, 12 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282258