https://www.taxtmi.com/caselaws?id=387017 The Appellate Tribunal set aside the Adjudicating Authority's rejection of an application for the initiation of corporate insolvency resolution process due to limitation issues. The Tribunal emphasized the importance of timely payments, the definition of default under the Insolvency and Bankruptcy Code, and the distinction between debts owed to financial and operational creditors. It found the claim to be disputed and directed a reevaluation by the Adjudicating Authority after hearing both parties, without imposing costs. en-us Fri, 19 Jul 2019 00:00:00 +0530 Tue, 15 Oct 2019 12:06:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387017 The Appellate Tribunal set aside the Adjudicating Authority's rejection of an application for the initiation of corporate insolvency resolution process due to limitation issues. The Tribunal emphasized the importance of timely payments, the definition of default under the Insolvency and Bankruptcy Code, and the distinction between debts owed to financial and operational creditors. It found the claim to be disputed and directed a reevaluation by the Adjudicating Authority after hearing both parties, without imposing costs. Case-Laws Insolvency and Bankruptcy Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387017