https://www.taxtmi.com/caselaws?id=291296 The Tribunal dealt with three insolvency claims and distinguished between substantiated entitlement and recovery-driven demands. A dividend claim supported by shareholding documents was directed to be considered in accordance with law because the Resolution Professional had not placed the basis of rejection before the Tribunal. Claims founded on loan documents, dishonoured cheques and pending enforcement proceedings were not entertained, as the insolvency process cannot be used as a recovery forum where other remedies are already being pursued. A claim based on an unregistered memorandum of understanding and incomplete supporting material was also rejected, especially where civil and criminal proceedings were pending. en-us Mon, 09 Sep 2019 00:00:00 +0530 Thu, 05 Nov 2020 12:20:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291296 The Tribunal dealt with three insolvency claims and distinguished between substantiated entitlement and recovery-driven demands. A dividend claim supported by shareholding documents was directed to be considered in accordance with law because the Resolution Professional had not placed the basis of rejection before the Tribunal. Claims founded on loan documents, dishonoured cheques and pending enforcement proceedings were not entertained, as the insolvency process cannot be used as a recovery forum where other remedies are already being pursued. A claim based on an unregistered memorandum of understanding and incomplete supporting material was also rejected, especially where civil and criminal proceedings were pending. Case-Laws Insolvency and Bankruptcy Mon, 09 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291296