https://www.taxtmi.com/caselaws?id=384495 The Tribunal rejected the petitioner's petition to initiate insolvency resolution against the respondent-corporate debtor under section 7 of the Insolvency and Bankruptcy Code. The petitioner, claiming to be a financial creditor, failed to establish falling within the definition of a financial creditor as per the Code. Despite previous legal actions and attempts to revive the claim, the Tribunal dismissed the petition, imposing exemplary costs and directing the petitioner to deposit a specified amount in the Prime Minister Relief Fund within a month to avoid further actions by the Registrar of Companies. en-us Tue, 11 Dec 2018 00:00:00 +0530 Fri, 16 Aug 2019 07:49:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384495 The Tribunal rejected the petitioner's petition to initiate insolvency resolution against the respondent-corporate debtor under section 7 of the Insolvency and Bankruptcy Code. The petitioner, claiming to be a financial creditor, failed to establish falling within the definition of a financial creditor as per the Code. Despite previous legal actions and attempts to revive the claim, the Tribunal dismissed the petition, imposing exemplary costs and directing the petitioner to deposit a specified amount in the Prime Minister Relief Fund within a month to avoid further actions by the Registrar of Companies. Case-Laws Insolvency and Bankruptcy Tue, 11 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384495