https://www.taxtmi.com/caselaws?id=289198 The tribunal dismissed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, finding that the debt claimed did not meet the definition of "Debt" in default. The petitioners failed to satisfy the requirements of Section 7, leading to the application's dismissal for insolvency process initiation. The decision was based on the lack of evidence supporting the default debt claim and the petitioners' failure to meet the necessary criteria for relief under Section 7. The application was dismissed without costs. en-us Wed, 17 Jul 2019 00:00:00 +0530 Sun, 19 Jul 2020 10:57:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289198 The tribunal dismissed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, finding that the debt claimed did not meet the definition of "Debt" in default. The petitioners failed to satisfy the requirements of Section 7, leading to the application's dismissal for insolvency process initiation. The decision was based on the lack of evidence supporting the default debt claim and the petitioners' failure to meet the necessary criteria for relief under Section 7. The application was dismissed without costs. Case-Laws Insolvency and Bankruptcy Wed, 17 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289198