https://www.taxtmi.com/caselaws?id=394971 The Tribunal rejected the petition filed by the Financial Creditor seeking Corporate Insolvency Resolution Process of the Corporate Debtor due to default by 14 borrowers in repaying loans for purchasing flats. The Tribunal found that the Corporate Debtor was not liable as the loans were individually applied for and disbursed to the Corporate Debtor as per instructions. The Tribunal deemed the petition an abuse of legal process, dismissing it and ordering the file to be archived. en-us Mon, 18 Nov 2019 00:00:00 +0530 Fri, 01 May 2020 11:10:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394971 The Tribunal rejected the petition filed by the Financial Creditor seeking Corporate Insolvency Resolution Process of the Corporate Debtor due to default by 14 borrowers in repaying loans for purchasing flats. The Tribunal found that the Corporate Debtor was not liable as the loans were individually applied for and disbursed to the Corporate Debtor as per instructions. The Tribunal deemed the petition an abuse of legal process, dismissing it and ordering the file to be archived. Case-Laws Insolvency and Bankruptcy Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394971