https://www.taxtmi.com/caselaws?id=291820 The Tribunal held that a Corporate Debtor undergoing Corporate Insolvency Resolution Process (CIRP) is not entitled to file a petition against its debtor based on Section 11 of the Insolvency and Bankruptcy Code, 2016. However, it clarified that a Corporate Debtor, represented by a Resolution Professional, can file an application under Section 7 or 9 to initiate CIRP against its debtor if the Corporate Debtor is not the subject of the CIRP. The judgment emphasized the need for a case-specific determination regarding the eligibility of Corporate Debtors to file applications against their respective debtors post-resolution process. en-us Fri, 07 Dec 2018 00:00:00 +0530 Wed, 25 Nov 2020 15:48:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291820 The Tribunal held that a Corporate Debtor undergoing Corporate Insolvency Resolution Process (CIRP) is not entitled to file a petition against its debtor based on Section 11 of the Insolvency and Bankruptcy Code, 2016. However, it clarified that a Corporate Debtor, represented by a Resolution Professional, can file an application under Section 7 or 9 to initiate CIRP against its debtor if the Corporate Debtor is not the subject of the CIRP. The judgment emphasized the need for a case-specific determination regarding the eligibility of Corporate Debtors to file applications against their respective debtors post-resolution process. Case-Laws Insolvency and Bankruptcy Fri, 07 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291820