https://www.taxtmi.com/caselaws?id=404409 The Tribunal allowed the appeal, directing the NCLT to restore the Company Petition under Section 7 of the IBC 2016, admitting the petition and proceeding accordingly. The Tribunal found the deposited amounts to qualify as 'Financial Debt,' the default in repayment as a 'default,' and deemed the Appellant's application maintainable. The NCLT's decision was overturned, and the case was remanded for further action. en-us Mon, 22 Feb 2021 00:00:00 +0530 Tue, 23 Feb 2021 09:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404409 The Tribunal allowed the appeal, directing the NCLT to restore the Company Petition under Section 7 of the IBC 2016, admitting the petition and proceeding accordingly. The Tribunal found the deposited amounts to qualify as 'Financial Debt,' the default in repayment as a 'default,' and deemed the Appellant's application maintainable. The NCLT's decision was overturned, and the case was remanded for further action. Case-Laws Insolvency and Bankruptcy Mon, 22 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404409