https://www.taxtmi.com/caselaws?id=293463 The Tribunal upheld the Adjudicating Authority's decision to admit the Application under Section 9 of the Insolvency and Bankruptcy Code filed by a sole proprietorship firm, emphasizing the inclusive definition of "person" in the IBC. Despite objections raised by the Corporate Debtor regarding interest inclusion, the default in payment was established, leading to the petition's admission and declaration of a moratorium. The Tribunal found no merit in the Appeal, dismissing it without costs, as no preexisting dispute was evident, and concerns regarding the Committee of Creditors' role were raised but not deemed substantial. en-us Tue, 25 Feb 2020 00:00:00 +0530 Thu, 11 Feb 2021 20:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293463 The Tribunal upheld the Adjudicating Authority's decision to admit the Application under Section 9 of the Insolvency and Bankruptcy Code filed by a sole proprietorship firm, emphasizing the inclusive definition of "person" in the IBC. Despite objections raised by the Corporate Debtor regarding interest inclusion, the default in payment was established, leading to the petition's admission and declaration of a moratorium. The Tribunal found no merit in the Appeal, dismissing it without costs, as no preexisting dispute was evident, and concerns regarding the Committee of Creditors' role were raised but not deemed substantial. Case-Laws Insolvency and Bankruptcy Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293463