https://www.taxtmi.com/caselaws?id=396389 The Tribunal dismissed the petition, finding no financial debt within the meaning of the IBC. The Corporate Debtor was deemed solvent, and the petition was considered an attempt at debt recovery rather than a genuine insolvency resolution process. The Tribunal emphasized that the IBC is not a substitute for debt enforcement procedures and cannot be used to jeopardize the financial health of a solvent company. en-us Fri, 13 Mar 2020 00:00:00 +0530 Fri, 03 Jul 2020 12:07:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396389 The Tribunal dismissed the petition, finding no financial debt within the meaning of the IBC. The Corporate Debtor was deemed solvent, and the petition was considered an attempt at debt recovery rather than a genuine insolvency resolution process. The Tribunal emphasized that the IBC is not a substitute for debt enforcement procedures and cannot be used to jeopardize the financial health of a solvent company. Case-Laws Insolvency and Bankruptcy Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396389