https://www.taxtmi.com/caselaws?id=288427 The Tribunal dismissed the petition to initiate Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016, as it found that the Corporate Applicant was not commercially insolvent and had assets to cover the debts. It was noted that the petition may have been an attempt to avoid other legal proceedings. The Tribunal emphasized that the decision did not bar the Petitioner from pursuing other legal remedies. en-us Mon, 08 Jul 2019 00:00:00 +0530 Sat, 06 Jun 2020 10:46:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288427 The Tribunal dismissed the petition to initiate Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016, as it found that the Corporate Applicant was not commercially insolvent and had assets to cover the debts. It was noted that the petition may have been an attempt to avoid other legal proceedings. The Tribunal emphasized that the decision did not bar the Petitioner from pursuing other legal remedies. Case-Laws Insolvency and Bankruptcy Mon, 08 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288427