https://www.taxtmi.com/caselaws?id=404838 The Tribunal found the application maintainable, allowing the Applicant to seek redressal. Respondent Nos. 2 to 7 were improperly admitted into the CoC as Financial Creditors due to non-compliance with claim submission procedures. The Corporate Guarantees were not deemed preferential transactions under the IBC. The Tribunal directed reconstitution of the CoC without recognizing Respondent Nos. 2 to 7 as Financial Creditors, while rejecting claims of fraudulence and preferential treatment. Previous CoC decisions with Respondent Nos. 2 to 7 were upheld, and no costs were awarded. en-us Tue, 02 Mar 2021 00:00:00 +0530 Wed, 25 Aug 2021 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404838 The Tribunal found the application maintainable, allowing the Applicant to seek redressal. Respondent Nos. 2 to 7 were improperly admitted into the CoC as Financial Creditors due to non-compliance with claim submission procedures. The Corporate Guarantees were not deemed preferential transactions under the IBC. The Tribunal directed reconstitution of the CoC without recognizing Respondent Nos. 2 to 7 as Financial Creditors, while rejecting claims of fraudulence and preferential treatment. Previous CoC decisions with Respondent Nos. 2 to 7 were upheld, and no costs were awarded. Case-Laws Insolvency and Bankruptcy Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404838