https://www.taxtmi.com/caselaws?id=292171 The Tribunal found that the amount claimed by the Applicants constituted a "financial debt" under the Insolvency and Bankruptcy Code, as it was disbursed against the consideration for the time value of money. Despite objections raised by the Respondent Corporate Debtor Company regarding the maintainability of the petition and a settlement deed between the parties, the Tribunal admitted the petition. It declared a moratorium, appointed an Interim Resolution Professional, and directed cooperation from all connected parties for the Corporate Insolvency Resolution Process. The petition was admitted on 16.03.2020. en-us Mon, 16 Mar 2020 00:00:00 +0530 Tue, 08 Dec 2020 19:07:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292171 The Tribunal found that the amount claimed by the Applicants constituted a "financial debt" under the Insolvency and Bankruptcy Code, as it was disbursed against the consideration for the time value of money. Despite objections raised by the Respondent Corporate Debtor Company regarding the maintainability of the petition and a settlement deed between the parties, the Tribunal admitted the petition. It declared a moratorium, appointed an Interim Resolution Professional, and directed cooperation from all connected parties for the Corporate Insolvency Resolution Process. The petition was admitted on 16.03.2020. Case-Laws Insolvency and Bankruptcy Mon, 16 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292171