https://www.taxtmi.com/caselaws?id=398716 The National Company Law Tribunal, Bengaluru Bench, ruled in favor of the Petitioner in a case involving the interpretation of Regulation 9A of the Insolvency and Bankruptcy Board of India Regulations. The Tribunal held that home buyers should be considered as "other creditors" and advances from them cannot be treated as financial liabilities. By considering relevant provisions and submissions, the Tribunal overruled office objections and allowed the petition, emphasizing adherence to the law and specific circumstances in insolvency proceedings. en-us Fri, 12 Jun 2020 00:00:00 +0530 Wed, 23 Sep 2020 08:03:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398716 The National Company Law Tribunal, Bengaluru Bench, ruled in favor of the Petitioner in a case involving the interpretation of Regulation 9A of the Insolvency and Bankruptcy Board of India Regulations. The Tribunal held that home buyers should be considered as "other creditors" and advances from them cannot be treated as financial liabilities. By considering relevant provisions and submissions, the Tribunal overruled office objections and allowed the petition, emphasizing adherence to the law and specific circumstances in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Fri, 12 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398716